Cabot sells its Supermetals business for $400 million
Clients Cabot Corporation
Jones Day advised Cabot Corporation in the $400 million sale of its Supermetals business to Global Advanced Metals. Cabot will sell to GAM all of its assets relating to the Supermetals business, located in Pennsylvania and Japan. As consideration, Cabot will receive $175 million in cash at closing, notes for an additional $215 million and the right to receive a portion (guaranteed to be at least $11.5 million) of the Supermetals business' earnings for two years after closing. The deal with GAM was reached following a competitive auction process and negotiations with multiple bidders. The transaction was announced on August 25, 2011, and is expected to close, subject to receipt of regulatory approval, by the end of 2011.