Univar Solutions Agrees To Be Taken Private By Apollo Global In $8.1 Bln Deal

Univar Solutions Inc. (UNVR) agreed to be taken private by Apollo Global Management Inc. (APO) in an all-cash transaction that values the chemical company at about $8.1 billion. The transaction includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority.

The agreement provides that Univar Solutions shareholders will receive $36.15 per share in cash, which represents a 20.6% premium to the Company's undisturbed closing stock price on November 22, 2022.

The transaction consideration also represents a premium of 33.6% to the volume-weighted average price of Univar Solutions for the 30 trading days ending on November 22, 2022.

The transaction is expected to close in the second half of 2023.

Upon completion of the transaction, shares of Univar Solutions common stock will no longer trade on the New York Stock Exchange, and Univar Solutions will become a privately held company. Univar Solutions will continue to operate under the Univar Solutions name and brand and maintain a global presence, Univar said in a statement.

In early January, German chemicals distributor Brenntag (BNTGF.PK) said it terminated its preliminary buy-out discussions with Univar Solutions. But Univar then said it would continue discussions relating to other indications of interest that have been received with respect to a potential transaction.

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