Ashland completes Hercules acquisition
Speciality chemicals provider Ashland Inc has completed its acquisition of Hercules Incorporated.
Speciality chemicals provider Ashland Inc has completed its acquisition of Hercules Incorporated.
Ashland’s new structure, which is effective immediately, comprises five commercial units including: Ashland Hercules Water Technologies, a speciality paper and water chemicals business; Ashland Performance Materials, a speciality resins business; Ashland Aqualon Functional Ingredients, a speciality additives and functional ingredients business; and Ashland Distribution, North America’s leading distributor of chemicals, plastics, composite materials and environmental services.
“This is a landmark day for our combined employees, customers, shareholders and all those with whom we interact,” said James J O’Brien, Ashland chairman and ceo. “Together we now begin working to build an exciting new future, confident that our people, technologies, products and services will drive our growth for years to come.”
Under the new agreement, each share of Hercules common stock outstanding was exchanged for $18.60 in cash and 0.093 of a share of Ashland common stock.
