MIDDLEBURY, Conn. (July 1, 2008) — Chemtura Corp. has decided to stay as one firm after thoroughly exploring a potential sale, merger or other business combination involving the entire company.
The company last December said a special committee of its board of directors and its financial adviser, Merrill Lynch & Co. Inc., would explore a range of strategic alternatives. Recent press reports linked Chemtura, a urethane prepolymer and additives supplier, to talks with major private equity firms for a takeover.
Chemtura said it has instructed management, the special committee and Merrill Lynch to continue considering other strategic options for the company. That includes select business divestitures, acquisitions, joint ventures and changes in capital structure, the firm said.