Bayer to buy Sybron Chemicals

PITTSBURGH (Sept. 5)—Bayer Corp. will purchase Sybron Chemicals Inc. for about $325 million to augment and boost its share of the polymer and specialty chemical market. Bayer has agreed to acquire all of Sybron´s outstanding shares for $35 per share in cash under a 20-day tender offer the firm will make Sept. 8, which could be extended. Stock not purchased in the tender offer will be exchanged for cash when Sybron Chemicals is merged into Bayer. The $325 million covers outstanding shares, debt, cash and options, according to a spokesman from Bayer, a subsidiary of Leverkusen, Germany-based Bayer A.G.