Eastman Chemical acquires Solutia for $4.8 billion
Clients Eastman Chemical Company
Jones Day advised Eastman Chemical Company, a global chemical company that manufactures and sells a broad portfolio of chemicals, plastics, and fibers, in its $4.8 billion acquisition and related $3.5 billion financing of Solutia Inc., a global leader in performance materials and specialty chemicals. Under the terms of the agreement, Solutia stockholders received $22.00 in cash and 0.12 shares of Eastman common stock for each share of Solutia common stock.
In addition to M&A representation, Jones Day provided antitrust, capital markets, banking, employee benefits, environmental, and tax advice regarding this transaction.