Hexion Holdings Corporation has entered into a definitive agreement to be acquired by affiliates of American Securities LLC for $30.00 per share in cash. The transaction is expected to close in the first half of 2022. Holders of a majority of the outstanding Hexion Holdings shares have agreed to support the transaction pursuant to voting agreements entered into in connection with the transaction.
Hexion Holdings net sales for the year-ended December 31, 2020 were $2.5 billion. Post-sale of the Epoxy business, the remaining Hexion business will be a leading global producer of adhesives and performance materials that enable the production of engineered wood products and other growing specialty materials. The Company has 27 manufacturing facilities globally and approximately 1,300 employees.
