Eastman Chemical to Buy Solutia for $27.65 a Share
Eastman Chemical agrees to buy Solutia for $4.7 billion, including debt.
KINGSPORT, Tennessee (
) --
Eastman Chemical
(EMN) - Get Report
reached an agreement to buy
Solutia
( SOA) for $4.7 billion, including debt.
Under the deal, Eastman Chemical will pay $27.65 for each Solutia share, a premium of 42% to Solutia's closing price Thursday of $19.51.
-- Written by Joseph Woelfel
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