Davis Polk is advising Chemtura Corporation in connection with its approximately $2.5 billion acquisition by LANXESS AG. The transaction, which is expected to close around mid-2017, is subject to approval by the holders of Chemtura’s common stock, customary closing conditions and regulatory approvals, including U.S. and foreign antitrust, CFIUS and ITAR approvals.

Chemtura Corporation, with 2015 sales of $1.7 billion, is a global manufacturer and marketer of specialty chemicals. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, specialty chemicals and plastics.

The Davis Polk corporate team includes partners John A. Bick and William H. Aaronson and associate Jesse Kramer. Partner Jeffrey P. Crandall and counsel Ron M. Aizen are providing executive compensation advice. Counsel Betty Moy Huber is providing environmental advice. Counsel David R. Bauer is providing intellectual property and technology advice. Partner Neil Barr is providing tax advice. Partner Joseph P. Hadley is providing credit advice. Partner Arthur J. Burke is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.

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