Solstice and Element Cancel Merger
Solstice Advanced Materials and Element Solutions have mutually agreed to terminate their 14.5 billion dollar merger after receiving feedback from shareholders favoring independence. Neither company will pay any penalties. Solstice announced a 500 million dollar share buyback program.
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Solstice Advanced Materials and Element Solutions terminated their $14.5 billion merger on Thursday evening following shareholder feedback. The scrapped deal halts a planned tie-up that would have combined chemical suppliers for semiconductor manufacturing. Neither company will pay termination penalties as part of the decision.
