Belgian chemicals company, Solvay, will acquire Rhodia for about €3.4 billion, Financial Times reports. As per the deal, the French chemical company’s shareholders will receive €31.6 a share in cash. The deal has an enterprise value of €6.6 billion, including debt. Solvay had appointed Morgan Stanley and HSBC, while Credit Suisse and BNP Paribas acted as advisors for Rhodia.
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