Lanxess to buy Chemtura for ~$2.5B

• German-based specialty chemical company Lanxess (OTCPK:LNXSF) agrees to acquire Chemtura (OTC:CHMT) for ~$2.5B in cash.
• The $33.50/share offer represents an 18.9% premium to the stock’s closing price on Sept. 23.
• Lanxess says the acquisition would expand its business activities in additives for lubricants and flame retardants.