Deals
Albemarle to Buy Lithium Producer Rockwood for $6.2 Billion
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Albemarle Corp. agreed to pay $6.2 billion in cash and stock for Rockwood Holdings Inc., the world’s largest producer of lithium products, which are increasingly in demand for batteries used in electric cars.
The transaction values Princeton-based Rockwood at $85.53 a share, or 13 percent more than yesterday’s closing price, the companies said in a statement today. The takeover is expected to close in the first quarter of 2015.