Solvay and Rhodia agree tender offer

Acquisition to go ahead

Solvay and Rhodia have agreed the Belgian chemicals and plastics firm’s tender offer on Rhodia for €31.60 per share. Rhodia has offered 94.25% of shares, retaining 4.89% of the share capital and voting rights.

“We thank the shareholders of Rhodia, who showed their trust by tendering their securities,” commented Christian Jourquin, Solvay ceo and Jean-Pierre Clamadieu, president and chairman of Rhodia. “The integration of the two groups can start now and we look forward to creating a new major actor in chemistry, fully involved in sustainable development, innovation and operational excellence.”