KINGSPORT, Tennessee (


) --

Eastman Chemical

(EMN) - Get Report

reached an agreement to buy


( 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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Joseph Woelfel

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