Univar Solutions (UNVR) and Apollo (APO) announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the company in an all-cash transaction that values the company at an enterprise value of approximately $8.1B. The transaction includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority. The agreement provides that Univar Solutions shareholders will receive $36.15 per share in cash, which represents a 20.6% premium to the company’s undisturbed closing stock price on November 22, 2022. The transaction consideration also represents a premium of 33.6% to the volume-weighted average price of Univar Solutions for the 30 trading days ending on November 22, 2022. The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including approval by Univar Solutions shareholders and receipt of regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, shares of Univar Solutions common stock will no longer trade on the New York Stock Exchange, and Univar Solutions will become a privately held company. Univar Solutions will continue to operate under the Univar Solutions name and brand and maintain a global presence.
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