Bill Ackman just scored another M&A win.
Platform Specialty Products, one of Bill Ackman’s top holdings, announced on Monday a plan to acquire British chemical and materials maker Alent for approximately $2.1 billion. Including net debt, the total deal value is about $2.3 billion.
“This business and acquisition fits well within our stated objectives, and we are compelled by the value creation the combination may generate,” said Platform founder and chairman Martin Franklin in a statement. “The creation of Platform was the catalyst that created an environment where the Alent transaction could take place. That's what Platform is all about. Alent is a terrific fit and rebalances the portfolio as we continue to build the company.”
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