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Ashland Global Holdings Inc (ASH)

Posted: 2021-Sep-03 11:52 by news bot

Ashland Global Holdings Inc (NYSE: ASH) is selling its performance adhesives business to Arkema in a deal valuing the unit at $1.65 billion including debt. Agents for Arkema said the unit would combine with its adhesives subsidiary Bostik to give "one of the most complete offerings in the pressure sensitive adhesives sector." Ashland expects the cash deal to bring net proceeds of $1.2 billion to $1.3 billion and close by the end of the year, subject to regulatory approval. Arkema expects the deal to be accretive from the first year of integration and boost its net EPS by 1 euro by 2026.

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