Wall Street Seeks to Benefit From Specialties M&A Activity.

Chemical Market Reporter, February, 1999 by CHANG, JOSEPH

High premiums spark widespread investor interest. THE PLANNED MERGER of US specialty chemical manufacturers Rohm and Haas and Morton International in a $4.9 billion deal, following Hercules' acquisition of BetzDearborn for $3.1 billion last October, has sparked the interest of investors.

In light of the relatively high premiums offered for specialty chemical shares in a consolidation trend that is picking up steam, Wall Street is scrambling to find ways for investors to profit. Rohm and Haas' offer earlier this month to acquire Morton at $37.13 per share represented a 43 percent premium to Morton's share price prior to the announcement (CMR, 2/8/99, pg. 1). While far less dramatic than Hercules' successful bid for BetzDearborn, which commanded a 100...

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