DOWNER'S GROVE, Ill.—Following months of reported talks, Apollo Global Management has agreed to acquire Downers Grove-based distributor Univar Solutions for $8.1 billion, the company announced March 14.
The deal, described as an "all cash transaction," also includes "a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA)." The agreement also values shares of Univar at $36.15 which the company says "represents a 20.6 percent premium to the company's undisturbed closing stock price on November 22, 2022."
In the news release announcing the merger, Chris Pappas, chairman of Univar's board of directors, said: "We are pleased to have reached this agreement with Apollo, which will provide immediate and certain cash value for Univar Solutions shareholders. The board's decision follows a comprehensive review of value creation opportunities for Univar Solutions. We are confident this transaction is the right path forward and achieves our goal of maximizing value for Univar Solutions shareholders."Univar offers elastomer materials including silicone elastomers and silanes, plus antioxidants, plasticizers, accelerators, flame retardants and processing aids.