Jarden’s Franklin May Buy MacDermid to Enter Chemicals
Martin Franklin, who co-founded consumer goods company Jarden Corp. (JAH), is in talks to buy MacDermid Inc. to diversify into specialty chemicals used in electronics and printing products.
The British-born entrepreneur would make the purchase through London-listed investment company Platform Acquisition Holdings, founded with Nicolas Bergruen. Discussions are ongoing, Platform said in a statement today. Citing people familiar with the matter, the Wall Street Journal earlier reported that Franklin may pay $1.8 billion.
“A further announcement will be made in due course as appropriate,” Platform said. Shares of the London-listed company have been temporarily suspended until talks are concluded or abandoned.
MacDermid is expected to be the first of a string of niche chemical makers targeted by Franklin, the Journal reported. The Denver-based chemical maker was bought out by management in 2007, and hired Lazard to explore sale options after a failed attempt at an initial public offering.
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