Cabot Corp. to Buy Norit for $1.1 Billion, Add Activated Carbon
By Jessica Resnick-Ault -
2012-06-21T11:11:55Z
Cabot Corp. (CBT) agreed to buy Norit NV, the largest producer of activated carbon, for $1.1 billion.
The transaction gives Cabot a high-margin business that’s not subject to the cyclicality of some other chemicals, Cabot said in a statement today.
Cabot expects to finance the purchase with $200 million in cash, and $300 million in borrowings under its existing revolver, according to the statement. The Boston-based company plans to issue approxximately $600 million of long-term debt prior to closing.
To contact the editor responsible for this story: Jessica Resnick-Ault at jresnickault@bloomberg.net
More News:
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.