Cleary Gottlieb is advising long-time client Westlake Chemical Corporation, which today announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion.
Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. The transaction is expected to be completed in the first half of 2022 following customary closing conditions.
Cleary has advised Westlake Chemical Corporation on a variety of corporate transactions in recent years including its acquisition of NAKAN in 2018 and its acquisition of Axiall Corporation in 2016.
For further details, please see the official press release here.