KRATON CORPORATION STOCKHOLDERS APPROVE ACQUISITION BY DL CHEMICAL CO., LTD.

Rhea-AI Summary

Kraton Corporation's stockholders have approved the acquisition by DL Chemical Co, Ltd, with stockholders set to receive $46.50 cash per share. CEO Kevin M. Fogarty expressed confidence that this merger will enhance Kraton’s global reach and facilitate investment in its product offerings. Kraton, a leader in specialty polymers and bio-based products, operates across various sectors including adhesives and coatings, providing its innovative solutions to customers in over 70 countries.

Positive

• Stockholders to receive $46.50 per share in cash.
• Acquisition expected to enhance global reach and investment opportunities.

Negative

• None.

HOUSTON, Dec. 9, 2021 /PRNewswire/ -- Kraton Corporation (NYSE: KRA) ("Kraton"), a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, today announced that its stockholders approved the proposed acquisition of Kraton Corporation by DL Chemical Co, Ltd. ("DL Chemical"). Under the terms of the definitive merger agreement with DL Chemical, Kraton stockholders will receive $46.50 in cash for each share of Kraton common stock they own.

"We are pleased that our stockholders have voted overwhelmingly in favor of the merger with DL Chemical," said Kevin M. Fogarty, Kraton's President and Chief Executive Officer. "We believe the transaction provides significant value for Kraton stockholders, and that the ownership of Kraton by DL Chemical will extend Kraton's global reach and provide a broad platform for further investment in, and expansion of, Kraton's product offerings for the benefit of all of Kraton stakeholders."

ABOUT KRATON

Kraton Corporation (NYSE "KRA") is a leading global producer of specialty polymers and high-value performance products derived from renewable resources. Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing products. As the largest global provider in the pine chemicals industry, the company's pine-based specialty products are sold into adhesive, road and construction and tire markets, and it produces and sells a broad range of performance chemicals into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks and mining. Kraton offers its products to a diverse customer base in over 70 countries worldwide. Kraton, the Kraton logo and design are all trademarks of Kraton or its subsidiaries or affiliates.

For additional information:

H. Gene Shiels
281 504-4886

 

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SOURCE Kraton Corporation

FAQ

What is the acquisition price for Kraton Corporation's stock?

Stockholders will receive $46.50 in cash for each share of Kraton common stock.

Who acquired Kraton Corporation?

DL Chemical Co, Ltd. has acquired Kraton Corporation.

What are the expected benefits of the acquisition for Kraton?

The acquisition aims to extend Kraton's global reach and provide a platform for future investments and product expansion.

When was the acquisition approved?

The acquisition was approved by Kraton's stockholders on December 9, 2021.