Chemtura, Blackstone, Apollo . . . bait in the chemicals?
Posted by: in Private Industry NewsFiled under: Deals, Movers and shakers, The Blackstone Group, Rumors, Apollo Management, Private equity industry, Public or private?
Shares of Chemtura Corporation (NYSE: CEM) are seeing some love early Tuesday. A report out of the WSJ from last night is putting the stock in play as a potential takeover target. The report notes that Blackstone Group LP (NYSE: BX) and Apollo Management LP are in talks to acquire the specialty chemical maker.
The company’s market cap is almost $1.9 billion, so it would seem within the realm of deal sizes even in an environment where private equity types haven’t been able to do many deals. Whether or not the deal is made, that’s yet to be seen.
Chemtura products are used in flame retardants, polymer additives, PVC additives, agriculture, plastics, and more.
Even on a deal this size, do we need club deals in a private equity environment in need of simplification? Either way, until we’ve an announcement. this should be treated as just a rumor.
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