Chemtura's review of strategic alternatives yields no results

By Lisa Kerner

Charlotte, N.C., June 26 - Chemtura Corp. said it will continue to operate as a stand-alone company following its review of strategic alternatives with the assistance of Merrill Lynch & Co.

The company's board of directors explored a potential sale, merger or other business combination involving the entire company, a Chemtura news release said.

Discussions concerning a potential sale, merger or other business combination have been terminated since the board believes they are unlikely to result in a sufficient offer.

Chemtura's special committee, its management and Merrill Lynch will continue to consider other strategic options such as select business divestitures, value-creating acquisitions, joint ventures and changes in the company's capital structure, which could include a stock repurchase program, the release stated.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.