Crompton & Knowles and Witco announced that their boards of directors have approved a definitive agreement for a tax-free, stock-for-stock merger of equals.
STAMFORD AND GREENWICH, Conn. — Crompton & Knowles Corp., and Witco Corp., two of the world’s leading producers of specialty chemicals, announced that their boards of directors have approved a definitive agreement for a tax-free, stock-for-stock merger of equals.
The combined company, to be named C&K Witco Corp., will be one of the world’s largest specialty chemical companies with a total capitalization of approximately $3.9 billion. C&K Witco will have about 10,000 employees and its headquarters will be in Connecticut. The company will focus on additives, polymers, processing equipment and specialty chemicals.