Evonik Buys $3.8 Billion Chemical Unit From Air Products

  • Synergies of $80 million, tax benefit of $500 million expected
  • Deal focuses Air Products on core industrial-gases business

Evonik Industries AG agreed to acquire the performance-materials unit from Air Products & Chemicals Inc. in a $3.8 billion deal to increase U.S. sales of high-margin products used in coatings, insulation and household detergents.

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