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PolyOne Corp to buy Spartech for $250 mln
October 24, 2012 / 10:20 AM / 5 years ago

PolyOne Corp to buy Spartech for $250 mln

Oct 24 (Reuters) - Chemicals company PolyOne Corp will buy Spartech Corp, which makes plastic sheet, compounds and packaging solutions, for about $250 million.

Spartech stockholders will receive $2.67 in cash and 0.3167 PolyOne shares for each share held.

Spartech stockholders will receive cash and stock valued at $8 per share based on PolyOne’s Tuesday close of $16.84. This represents a premium of 56 percent to Spartech’s Tuesday close on the New York Stock Exchange.

The deal is valued at $393 million, including the assumption of Spartech’s net debt of $142 million, the companies said.

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