Solstice Advanced Materials, a Honeywell spinoff, and Element Solutions are discussing a potential merger, according to a report by the Financial Times. The deal, which could be worth around $27 billion including debt, would create a significant player in the specialty chemicals market.
Merger Talks
The talks are ongoing, with a deal potentially being announced as soon as this week. However, no formal agreement has been reached, and the discussions could still fall apart. Both companies are seeking to capitalize on growing demand for specialty chemicals used in AI data centers and semiconductor manufacturing.
Solstice, which was spun off from Honeywell last year, produces specialty chemicals and materials used in various industries, including semiconductor, refrigeration, nuclear power, and healthcare. Element Solutions, on the other hand, primarily supplies specialty chemicals for electronics manufacturing and reported over 40% growth in first-quarter revenue this year, driven mainly by AI-related demand.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
