InsideArbitrage Potential Deal: According to Bloomberg, Brenntag Explores Takeover of Univar (UNVR)

  • November 27, 2022

POTENTIAL DEAL DETAILS

StockUnivar Solutions Inc.SymbolUNVR
Date Announced11/25/2022Source Bloomberg
TypeNews Report

Germany’s Brenntag SE is exploring a potential acquisition of US rival Univar Solutions Inc. (UNVR) that would cement its position as the world’s biggest chemical distributor and create a company with more than $30 billion in sales, people familiar with the matter said.

Update(s):

November 30, 2022: Engine Capital sends a letter to the board of directors of Univar regarding the need to initiate a formal review of strategic alternatives.

December 20, 2022: Activist investor PrimeStone has urged German chemicals distributor Brenntag to end talks with potential takeover target Univar Solutions and instead buy back shares and prepare for a break-up into two separate companies.

January 2, 2023: German chemicals distributor Brenntag said on it is ending talks with smaller U.S. rival Univar Solutions (UNVR) on a possible takeover, weeks after activist investor PrimeStone called on the company to consider a break-up instead.

January 11, 2023: According to Bloomberg, Univar Solutions (UNVR) has attracted interest from potential bidders including Apollo Global Management (APO) and Platinum Equity, people familiar with the matter said.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.