March 17, 2023 | Industrials | North America | Ended

Univar Solutions / Apollo Management, ADIA: Deal Insights

On 14-Mar-23, funds managed by affiliates of private equity firm Apollo signed a deal to take private chemical and ingredient distributor Univar Solutions (“Univar”). Univar shareholders will receive $36.15 per share in cash, a 20.6% premium to the company’s undisturbed 22-Nov-22 closing price when it confirmed the receipt of a preliminary indication of interest from Brenntag (BNR GR), a rival German chemical distributor. Talks with Brenntag fell through in early January 2023. Univar’s board has approved the transaction and conditions to closing include Univar shareholder approval (50%), HSR and other antitrust approvals, and clearance under CFIUS. An HSR filing is expected within 10 business days (by 27-Mar-23). A draft CFIUS notice will be ...

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