THE WHAT? Specialty components provider Ashland is reportedly exploring a possible sale after attracting takeover curiosity from strategic and monetary consumers, together with a number of main non-public fairness companies.
THE DETAILS Ashland is working with Citigroup and Lazard because it considers approaches from potential suitors, in accordance with Bloomberg. Non-public fairness teams Introduction, Apollo International Administration and Carlyle are amongst these reported to have made contact, whereas main Ashland shareholder Customary Industries can also be stated to have an interest. The US firm, which provides specialty components and components to industries together with private care and prescribed drugs, has a market worth of roughly US$3.5 billion. The overview follows strain from activist investor Ancora Holdings Group, which had referred to as for Ashland to pursue a sale. Discussions stay ongoing and there’s no certainty that they may lead to a transaction.
THE WHY? A change of possession can be vital for the sweetness and private care components sector, the place Ashland is a longtime provider of specialty components and formulation applied sciences. The potential sale additionally displays wider investor curiosity in specialty chemical compounds companies serving high-value finish markets.
Supply: Bloomberg
