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Lonza Group Ltd. has completed its acquisition of Arch Chemicals Inc. Therefore, Lonza and its indirect, wholly-owned subsidiary LG Acquisition Corp. has acquired all outstanding shares of common stock of Arch Chemicals Inc. for US$ 47.20 per share in cash, without interest and less any required withholding taxes.
Lonza will own more than 90% of the outstanding shares of Arch Chemicals common stock and expects to complete its acquisition of Arch Chemicals through a short-form merger without a vote or meeting of Arch Chemicals’ shareholders. The short-form merger and completion of the acquisition of Arch Chemicals is expected to be completed no later than Oct. 21, 2011. Upon completion of the merger, Arch Chemicals will become an indirect, wholly-owned subsidiary of Lonza.
The acquisition has resulted in the formation of Lonza Microbial Control, a new business sector led by Jeanne Thoma. This sector will provide customers with a complete solutions for their microbial control needs. The new business will be ideally positioned to increase R&D and product development spending across its broader product portfolio. Lonza will offer this complementary range of products and actives to a broader range of customers in both established and emerging markets.
According to Lonza, the acquisition will make it a leader in microbial control. It plans to use its resources to invest in R&D and applications development.