Chemical
Brenntag terminates acquisition talks with Univar
Univar will continue discussions relating to other indications of interest that have been received with respect to a potential transaction
- By ICN Bureau
| January 03, 2023
Univar Solutions Inc. a leading global solutions provider to users of specialty ingredients and chemicals, today confirmed that Brenntag SE has ended its discussions with the Company about a potential transaction. The company and its Board of Directors are committed to acting in the best interest of its stockholders and will continue discussions relating to other indications of interest that have been received with respect to a potential transaction.
There can be no assurance that the ongoing process will result in any transaction. The Company does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so.
The update comes after Brenntag on Nov. 25 confirmed that it was in talks with Univar. In late November activist Engine Capital, which disclosed it had a ~1% stake in Univar, said the company should start a competitive sales process that invites additional parties to bid for Univar.
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