Japan/USA: Merger Agreement Kuraray to Acquire Calgon Carbon
Calgon Carbon and Kuraray announced that they have entered into a definitive merger agreement under which Kuraray will acquire Calgon Carbon for $ 1.3 billion.
Pittsburgh/USA and Tokyo/Japan — The Japanese company pays $ 21.50 per share in cash, which equates to an equity value of approximately $ 1.1 billion. The transaction remains subject to customary closing conditions, including regulatory approvals and approval by Calgon Carbon stockholders. The parties are targeting a closing by the end of December, 2017.
Kuraray intends to operate Calgon Carbon as a separate subsidiary. The companies will align the organization and operation for optimal customer support from Calgon Carbon’s world headquarters in Pittsburgh, Pennsylvania. The companies have complementary products and services, such as activated carbon and filtration media products.