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Standard Industries Holdings to acquire Grace
4/26/2021
(GLOBE NEWSWIRE) W. R. Grace & Co. and Standard Industries Holdings Inc., the parent company of Standard Industries, a privately held global industrial company, announced that they have entered into a definitive agreement under which Standard Industries Holdings will acquire Grace in an all-cash transaction valued at approximately $7 billion, including Grace’s pending pharma fine chemistry acquisition. Standard Industries’ related investment platform 40 North Management LLC (“40 North”) is a long-standing shareholder of Grace.
Under the terms of the agreement, Standard Industries Holdings will acquire all of the outstanding shares of Grace common stock for $70.00 per share in cash. The purchase price represents a premium of approximately 59% over Grace’s closing stock price of $44.05 on November 6, 2020, the last trading day prior to the announcement of 40 North’s initial proposal to acquire the Company on Novem
W.R. Grace & Co.
Industrial conglomerate Standard Industries Holdings Inc. has acquired specialty chemicals maker W.R. Grace & Co. in a $7 billion all cash deal.
Plastics-related products made by Columbia, Md.-based Grace include polyolefin catalysts for the production of polypropylene and polyethylene resins, as well as surface modifiers for thin polymer films.
Grace also licenses Unipol-brand gas phase PP process technology for production of a broad range of PP resins. Grace acquired the Unipol PP technology from Dow for $500 million in 2013. Unipol originally was developed by Union Carbide Corp.
Under terms of the agreement, New York-based Standard will acquire all of the outstanding shares of Grace common stock for $70 per share in cash. That price represents a premium of almost 60 percent over Grace s closing stock price of $44.05 on Nov. 6. That was the last trading day prior to the announcement of 40 North Management LLC s initial proposal to acquire Grace.
Mark Schlakman
Floridaâs Clemency Board didnât actually do much to help felons regain the right to vote | Column
The newest reforms appear to be far less than they may have seemed.
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Florida s Cabinet: From left, Commissioner of Agriculture Nikki Fried, Gov. Ron DeSantis, Attorney General Ashley Moody, Chief Financial Officer Jimmy Patronis. Its members met as the Clemency Board last week. [ News Service of Florida ]
Published Mar. 15
Updated Mar. 15
Floridaâs Board of Executive Clemency seemed to advance major reforms last week regarding how most people who have served felony sentences can regain their civil rights. But what really happened? The news, it appears, is less than it seemed.
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