Albermarle to purchase Rockwood Holdings for $6.2B

|By:, SA News Editor

Albermarle (NYSE:ALB) has agreed to purchase rival Rockwood Holdings (NYSE:ROC) in a cash-and-stock deal for approximately $6.2B.

The agreement values Rockwood at $85.53 per share - a 13% premium to its yesterday's closing price. Albemarle will pay $50.65 in cash and 0.4803 shares for each share of Rockwood stock.

Rockwood announced net sales of $355M for Q1; Albemarle posted $656M.