Albemarle Corp. (ALB) announced the acquisition of full-service power plant mercury-control provider Sorbent Technologies Corp. (SORB.PK) for a total consideration of approximately $22.500 million. The company closed the transaction on July 31. Sorbent Technologies received $6.4326 per share of common stock.
Albermarle expects that Sorbent's proprietary and comprehensive technologies will broaden its current bromine offerings and complements existing green solutions portfolio.
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