Skip to main content

COVINGTON, Kentucky (


) -- Chemical company


(ASH) - Get Free Report

said Tuesday it will acquire privately owned

International Specialty Products

for about $3.2 billion in cash.

"ISP's advanced product portfolio will expand Ashland's position in high-growth markets such as personal care, pharmaceutical and energy," Ashland said in a statement.

ISP's sales for the year ended March 31 were $1.6 billion.

Ashland said the acquisition is expected to close before the end of the September quarter. The deal should immediately add to Ashland's per-share earnings, the company said.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

>To submit a news tip, send an email to: