Akzo Nobel, the Dutch paint and chemicals company, said on Wednesday that it had reached a truce with Elliott Management, ending a dispute that had been the latest example of an activist investor looking to reshape a major business.
Activist hedge fund Corvex Management has built a stake in Clariant AG in a move designed to undo the Swiss chemicals maker’s $6.4 billion planned takeover of Huntsman Corp., according to people with knowledge of the situation. Corvex, which has built a stake in Clariant that exceeds the disclosure threshold of 3 percent, plans to push the company to explore alternatives to the deal including a potential sale, said the people, who asked not to be named because the situation is private. The activist investor believes the Huntsman acquisition, which was championed by Clariant Chief Executive Officer Hariolf Kottmann, lacks strategic rationale,...
Bruised hedge fund tycoon Bill Ackman might be finally catching a break on one of his investments. Stephen Schwarzmanâs buyout firm Blackstone Group has formed a bidding consortium that could shell out more than $4 billion to buy half of chemicals giant Platform Specialty Products, whose biggest shareholder is Ackman, three sources told The Post....
Chinese defence conglomerate China North Industries Group Corp (Norinco) has signed a framework agreement with state-run oil company Saudi Aramco to build a refinery and chemicals complex in northeast China, industry and government officials said on Tuesday.
The investment was led by AGC Asahi Glass (AGC), a world-leading manufacturer of glass, chemicals and high-tech materials, and included new investor Hermes-Epitek, as well as existing investors 5AM Ventures, Alexandria Venture Investments, Capricorn Investment Group, Mitsubishi UFJ Capital, and Versant Ventures. Jean-François Heris, senior executive officer of AGC and president of AGC Building and Industrial Glass Company, has joined the Kinestral board of directors.
German chemicals giant Bayer will invest about US$8 billion in the United States in agriculture research in conjunction with Monsanto, which it is purchasing, the companies said on Tuesday.
<p>Mumbai-based pharmaceutical company ZCL Chemicals Ltd has raised Rs 170 crore ($25 million) from a fund managed by Morgan Stanley Private Equity Asia (MSPEA), according to a press note.</p> <p>The company, which manufactures and exports advanced drug intermediates and active pharma ingredients (API), will use the money for its growth plans.</p>
<p>Maroon Group LLC announced today that it has acquired Cadence Chemical, a national distributor of specialty chemicals based in Stamford, Connecticut. Cadence Chemical's management team, led by its President, John Wilson, will continue to actively manage the business. Terms of the transaction were not disclosed. Maroon Group is owned by CI Capital Partners and Maroon Group management.</p> <p>Founded in 2004, Cadence distributes specialty intermediate chemicals to the CASE (Coatings, Adhesives, Sealants, Elastomers), chemical processing, water treatment and associated industries. Cadence will become part of the Specialty Intermediates division of Maroon Group.</p>
Venture capitalists have pumped in $5.8 billion into bio-based materials and chemicals (BBMC) startups since 2010, reflecting the drive for sustainability, performance, and alternatives to petroleum feedstocks. While from 2010 to 2015, the investment focus was on drop-in replacements for established chemicals, in 2016 VCs' focus has shifted to disruptive synthetic biology (synbio) and conversion technologies, according to Lux Research.
Fairfax India Holdings Corp (TSX: FIH.U), an affiliate of Fairfax Financial Holdings Ltd, has launched a US$150 million bought deal financing and a US$350 million concurrent private placement. The Ontario Municipal Employees Retirement System (OMERS) will acquire about 17 million subordinate voting shares as part of the latter offering, which is expected to close in January. Fairfax India was set up in 2014 to make private equity, public equity and debt investments in India. Its recent private deals include April’s <a href="https://www.pehub.com/canada/2016/4/fairfax-india-to-invest-300-mln-in-sanmar-chemicals-reuters/" target="_blank">US$300 million invested in</a> Sanmar Chemicals Group.