Adhesives & Sealants Headlines

Dexter Announces Merger Agreement; Deal Would Complete Breakup of Company

Dexter announced a merger agreement with Invitrogen.

WINDSOR LOCKS, Conn. – Dexter Corp. announced a merger agreement with Invitrogen Corp., San Diego, that Dexter said will complete the breakup of the company in response to a hostile-takeover bid by International Specialty Products (ISP). Following recent announcements regarding agreements to sell its Electronic Materials, and Adhesives, Polymer Systems and Nonwoven Materials businesses, Dexter said its remaining operations will be merged into Invitrogen Corp. in a transaction that calls for Dexter's outstanding shares to be converted into $62.50 per share in cash and Invitrogen stock.

Invitrogen, a supplier of life-science research products, also has agreed to a merger with Life Technologies Inc. in which shares of Life Technologies will be converted into $60 in cash and Invitrogen stock. Dexter currently owns approximately 75% of Life Technologies' stock.

Meanwhile, ISP has announced that it is dropping its tender offer for Dexter's outstanding shares and its plan to seek the election of Dexter board of directors' members who favored the acquisition of Dexter by ISP. In a statement, ISP said it had agreed to step aside as promised since the Invitrogen agreement would provide Dexter shareholders with value greater than ISP's $45-per-share offer for Dexter.

Dexter earlier announced agreements to sell its Electronic Materials, and Adhesives and Polymers Systems businesses to Loctite Corp., and its Nonwoven Materials businesses to Ahlstrom Paper Group Oy. The Invitrogen merger marks "the culmination of Dexter's program to maximize shareholder value in the short term," the company said.

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

ASI April 2014 Photo Gallery

Our April 2014 issue is now available!


ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.

More Podcasts

Adhesives & Sealants Industry Magazine

ASI march 2015 cover

2015 March

Welcome to our annual Raw Materials, Chemicals, Polymers and Additives Handbook!
Table Of Contents Subscribe

Paid Leave

President Obama recently announced he wants U.S. businesses and the federal government to provide paid sick leave and paid parental leave to all workers. Do you think this is a good idea?
View Results Poll Archive


Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

ASI 2014 Buyers GuideASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 


facebook_40px twitter_40  youtube_40pxlinkedin_40 google+ icon ASI 30px

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.