Solstice, Element terminate $14.5 billion merger deal
ESI•Merger agreement terminated after shareholder feedback
Aug. 27 (Reuters) - Solstice Advanced Materials said on Thursday it had agreed with Element Solutions to terminate their merger agreement, after shareholder feedback prompted both to conclude they would be better off operating independently.
The companies in July had agreed to a deal under which Solstice would acquire Element Solutions in a $14.5 billion deal.
Neither company will pay a termination fee, Solstice said.
Shares of Element Solutions were up 2% after the bell.
