Kraton stockholders approve USD2.5B acquisition by DL Chemical

Kraton Corporation, a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, announced that its stockholders have approved the proposed acquisition of Kraton Corporation by DL Chemical Co, Ltd.,  a subsidiary of South Korea’s DL Holdings Co., Ltd. (formerly Daelim Industrial Co., Ltd.). 

Kraton Corporation announced the USD2.5 billion all-cash transaction with DL Chemical in September.

Under the terms of the definitive merger agreement with DL Chemical, Kraton stockholders will receive USD46.50 in cash for each share of Kraton common stock they own.

The acquisition is subject to certain customary closing conditions and is expected to close by the end of the first half of 2022.

“We are pleased that our stockholders have voted overwhelmingly in favor of the merger with DL Chemical,” said Kevin M. Fogarty, Kraton president and chief executive officer. “We believe the transaction provides significant value for Kraton stockholders, and that the ownership of Kraton by DL Chemical will extend Kraton’s global reach and provide a broad platform for further investment in, and expansion of, Kraton’s product offerings for the benefit of all of Kraton stakeholders.”

Kraton’s polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing products. As the largest global provider in the pine chemicals industry, the company’s pine-based specialty products are sold into adhesive, road and construction and tire markets, and it produces and sells a broad range of performance chemicals into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks and mining.