Standard Industries Holdings will acquire W.R. Grace & Co.

W.R. Grace & Co., Columbia, Md., a leading global specialty chemical company, and Standard Industries Holdings Inc., New York, the parent company of Standard Industries, a privately held global industrial company, have entered into a definitive agreement under which Standard Industries Holdings will acquire Grace, according to www.globenewswire.com. The all-cash transaction is valued at about $7 billion and includes Grace’s pending pharma fine chemistry acquisition.

Grace will operate as a standalone company within the portfolio of Standard Industries Holdings, which includes Standard Industries’ businesses GAF, BMI Group, Schiedel, Siplast, SGI and GAF Energy.

The closing of the transaction is subject to customary closing conditions, including approval by Grace shareholders and the receipt of certain regulatory approvals. The parties expect the transaction to close in the fourth quarter of 2021. Upon completing the transaction, Grace will become a privately held company, and its common stock no longer will be listed on the New York Stock Exchange.

David Millstone and David Winter, co-CEOs of Standard Industries Holdings, said, “We are thrilled to welcome Grace to the Standard Industries family and look forward to working with its exceptional team to usher in a new era of innovation and growth for Grace, its employees, customers and the communities in which it operates.”

Date : Jan. 01, 0001