Solvay to buy US rival Cytec for $5.5bn, swings to profit for Q2

By Liz Gyekye
Published: Tuesday, 25 August 2015

Cytec deal will build Belgian company's presence in mining chemicals as sales and currency put company back in the black.

Solvay SA is to buy US rival Cytec Industries Inc. for $5.5bn to bolster its expertise in mining chemicals and boost its product offering.  The Belgian speciality chemicals giant said it would pay $75.25/share for Cytec and finance the deal by raising €1.5bn ($1.67bn*) of capital and issuing €1bn of...

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