Chemtura to consider strategic alternatives, including a sale of the company

By Lisa Kerner

Charlotte, N.C., Dec. 18 - The board of directors of Chemtura Corp. has authorized the company to consider a range of strategic alternatives available to the company to enhance shareholder value.

A special committee of independent directors of the board has been formed and will be assisted in the review process by Merrill Lynch & Co.

Chemtura will consider select business divestitures, value-creating acquisitions, changes to the company's capital structure or a possible sale, merger or other business combination involving the entire company, a company news release stated.

There can be no assurance that the review will result in any specific transaction, Chemtura said, and the company does not plan to comment further until a decision has been reached.

Chemtura is a manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. The company is located in Middlebury, Conn.

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