Eastman to buy Taminco for $2.8 billion
The US specialty chemical company, Eastman Chemical (Kingsport, Tennessee), has agreed to acquire US chemical company Taminco (Allentown, Pennsylvania) for $2,800 million, including net debt of $1,000 million. Taminco is the world's leading producer of alkylamines and alkylamine derivatives, which are used in the manufacture of agrochemicals and other sectors. The deal includes a 30-day "go shop" period, which allows Taminco to solicit and evaluate alternative proposals. It is subject to the approval of shareholders and regulators, and is expected to be completed during the fourth quarter of 2014.