Element Solutions to be Acquired by Solstice Advanced Materials in a $14.5 Billion Deal

Honeywell (HON) spinoff Solstice Advanced Materials, Inc. (SOLS) entered a merger agreement on July 6, 2026, to acquire Element Solutions Inc (ESI) in a deal valued at $14.5 billion.

Deal Structure:

Element Solutions shareholders will receive, for each share of Element common stock, $10 in cash and 0.5 shares of Solstice common stock, representing implied consideration of about $50.1 per Element share, at a premium of 14.8% from the stock’s last close.

Company Profile:

Element Solutions is a specialty chemicals company that develops and supplies chemical formulations and process technologies for electronics manufacturing, industrial surface treatment, and specialty industrial applications. Its products are used in semiconductor fabrication, printed circuit boards, electronics assembly, automotive, aerospace, packaging, and energy end markets.

Solstice Advanced Materials is a specialty materials company that develops and manufactures materials used in semiconductor manufacturing, refrigerants, data center cooling, protective fibers, healthcare packaging, and energy applications. The company serves industrial customers across a range of end markets with a portfolio of specialty materials and chemical products.

Deal Details and Timeline:

Element shareholders are expected to own roughly 44% of the combined company.

The merger is expected to close in the first half of 2027.

The combined company will operate under the Solstice name, with David Sewell serving as its CEO.

Solstice’s Board will have 11 members, including Element Solutions CEO Ben Gliklich and two additional directors from Element’s board.

Solstice has secured a fully committed $4.7 billion bridge loan from Goldman Sachs to fund the transaction, which it plans to replace with long-term debt financing before using it, along with cash on hand, to pay the cash portion of the deal at closing.

Element Solutions has appointed BofA Securities as its financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison as its legal advisor. Solstice is being advised financially by Goldman Sachs, PJT Partners, and Consello, with legal counsel from Davis Polk & Wardwell, Hogan Lovells, Cadwalader, and Cleary Gottlieb Steen & Hamilton.

Solstice is paying 22.85 times the EBITDA of Element Solutions.

Deal Metrics:

To gain further insight into the specifics of this M&A deal, please refer to the Deal Metrics page here:

Deal Metrics for the acquisition of Element Solutions Inc (ESI) by Solstice Advanced Materials, Inc. (SOLS)

The Deal Metrics page for each merger or acquisition includes the following:

• A history chart of the merger spread from announcement to completion or failure.
• All events as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, among others.
• News and SEC filings.
• A history of deal updates.
• And more.

Disclaimer: This article is for informational purposes only. Please conduct your own research and due diligence before engaging in any buying or selling of the securities mentioned. The completeness or accuracy of the content or data provided in this article is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article