Solstice to Acquire Element Solutions for 0.5 Share Plus $10 Cash Per Share
SOLS sits 70% above its 52-week low of $40.43 on elevated volume (5.9× avg).
Summary
Solstice Advanced Materials has finalized its acquisition of Element Solutions, offering 0.5 Solstice shares and $10.00 cash for each Element Solutions share. This follows yesterday's news and SEC filings announcing the definitive $14.5 billion deal. Solstice secured a $4.685 billion bridge loan and a $1 billion backstop revolver from Goldman Sachs to fund the cash portion, highlighting the significant capital required. Element Solutions' founder has also committed to supporting the merger. The deal still requires stockholder and regulatory approvals.
At the time of this announcement, SOLS was trading at $68.70 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $10.8B. The 52-week trading range was $40.43 to $90.80. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Wiseek News.