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Chemical manufacturer Albemarle Corp. (NYSE: ALB), Baton Rouge, LA, has agreed to acquire Rockwood Holdings Inc. (NYSE: ROC), Princeton, NJ, for $6.2 billion.
"The resulting company will have broader customer reach, increased diversity across end markets, technologies and geographies and more consistent and predictable earnings growth,” said Albemarle's president and CEO Luke Kissam.
"Our complementary specialty chemicals portfolios are expected to generate significant growth through the continued penetration of lithium-based energy storage products, compelling secular trends driving global catalyst growth, attractive surface treatment prospects and new bromine applications," said Rockwood CEO Robert J. Zatta.
Luke Kissam will serve as president and CEO of the combined company, which will operate under the Albemarle name. Albemarle's board of directors will have 11 members, with eight Albemarle directors and three Rockwood directors.