Kraton to buy privately held Arizona Chemical for $1.37 bln: Reuters

(Reuters) Kraton Performance Polymers Inc, a producer of rubber used in adhesives, coatings and personal care products, said it would buy privately held specialty chemicals producer Arizona Chemical Holdings Corp for $1.37 billion in cash. The deal is expected to add about $1.40 per share in profit in the first year of combined operations, Kraton said. Reuters reported on Friday, citing sources, that Kraton was in talks to acquire Arizona Chemical Company LLC, which is majority owned by private equity firm American Securities LLC. Kraton said on Monday that it expected pretax synergies of $65 million by 2018 and free cash flow of more than $450 million over the first three years of combined operations. The Houston-based company said it would finance the deal through debt facilities committed by Credit Suisse Securities (USA) LLC, Nomura Securities International Inc and Deutsche Bank Securities Inc. The deal is expected to close later this year or early next year, Kraton said. The company’s shares closed at $18.35 on Friday on the New York Stock Exchange.

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Kraton to buy privately held Arizona Chemical for $1.37 bln: Reuters

Lone Star raises offer for UK property firm Quintain: Reuters

U.S. private equity firm Lone Star raised its offer for Quintain Estate and Development Plc (QED.L) to 745 million pounds ($1.13 billion) on Friday, sending the British property firm’s shares up about 7 percent. Lone Star’s revised offer comes a day after The Times reported that activist shareholder Elliott Capital Advisers had taken control of a 12.9 percent holding in Quintain and felt the original offer undervalued the company. The new offer represents a 10 pence per share increase over Lone Star’s original offer and a premium of about 31.8 percent to Quintain’s closing price on the day before the first offer was made. Lone Star had in July made a 700-million-pound offer to buy Quintain, hoping to gain access to one of London’s few remaining large-scale development opportunities. (Reporting by Esha Vaish in Bengaluru; Editing by Anupama Dwivedi)

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Lone Star raises offer for UK property firm Quintain: Reuters