Eastman Chemical has deal to purchase Solutia

01/27/2012 | Google

Eastman Chemical has agreed to buy specialty-chemicals maker Solutia for $3.38 billion in cash and stock. "The acquisition of Solutia is a significant step in our growth strategy and one that I am confident will strengthen Eastman as a top-tier specialty-chemical company with strong, stable margins," said Chairman and CEO Jim Rogers. The deal is expected to close this year.

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