Univar to takeover Nexeo

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Univar Inc announced the acquisition of Nexeo Solutions $1.8B in cash and stock representing a 16% premium to the last closing price. The transaction will make for a combined chemicals distributor with revenues of nearly $12B.  The acquisition is expected to yield approximately $100M in cost savings by the end of the third year after closing in mid 2019.
“Together, we will drive growth and shareholder value with the largest North American sales force in chemical and ingredients distribution, the broadest product offering, and most efficient supply chain network in the industry,” David Jukes, CEO Univar, said in a statement. Goldman Sachs is financial advisor to Univar while Moelis & Company is advisor to Nexeo.

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