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

Speaker Transition Doesn’t Put K Street Off-Kilter

It’s steady as she goes around K Street despite the surprise resignation of House Speaker John Boehner from Congress. Several lobbyists and law firm leaders Friday afternoon indicated they’re already thinking through a transition of power to Majority Leader Kevin McCarthy. Others said they felt unaffected by leadership turmoil.

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Speaker Transition Doesn’t Put K Street Off-Kilter