Brenntag Terminates Preliminary Buy-out Talks With Univar Solutions

(RTTNews) - German chemicals distributor Brenntag (BNTGF.PK) said Monday that it has decided to terminate preliminary discussions with Univar Solutions (UNVR) for a potential acquisition.

The termination of the discussions follows the activist investor PrimeStone Capital LLP urging Brenntag last month to terminate buy-out talks with Univar Solutions. But PrimeStone, which owns 2% of the issued share capital of Brenntag, had urged Brenntag to buy back 2.5 billion euros worth of shares and announced the future separation of Brenntag Specialties and Essentials into two distinct listed companies.

Brenntag said in November that it was in preliminary discussions with Univar Solutions regarding a potential acquisition of Univar Solutions.