Sep. 11, 2014, 10:43 AM
- Taminco (TAM +11.8%) says it has agreed to be acquired by Eastman Chemical (EMN +0.1%) for $26/share.
- The merger agreement includes a 30-day go-shop period, when TAM will solicit and evaluate any alternative proposals.
- EMN says the acquisition strengthens its presence in attractive niche markets such as food, feed and agriculture, and adds a world-class technology platform in alkylamines to its portfolio.
- EMN expects the deal to be accretive to 2015 EPS by greater than $0.35, excluding acquisition-related costs and charges, and to 2016 EPS by greater than $0.60.
Dec. 23, 2013, 7:50 AM
- Taminco (TAM) agrees to acquire the formic acid business of Finland's Kemira (KMRSF) for €140M ($191M).
- TAM, which makes ingredients for crop protection products and animal feeds, says the deal will help it add new product lines; formic acid's uses include the preservation of animal feed and de-icing airport runways.
Taminco Corp is a pure play producer of alkylamines and alkylamine derivatives. Its products are applied in the manufacturing of everyday products primarily for the agriculture, water treatment, and oil & gas end-markets, among others.
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