Albemarle to Acquire Sorbent Technologies
[2008-4-15]
Albemarle and Sorbent Technologies announced that they have signed a letter of intent for Albemarle to acquire Sorbent Technologies, a power plant mercury control provider.
The transaction will be an all-cash transaction in which the shareholders of Sorbent Technologies could receive approximately $5.75 per share of common stock, which represents an aggregate purchase price of $20 million plus certain anticipated adjustments. The completion of the transaction is subject to certain typical conditions, including Sorbent Technologies shareholder approval.
"Escalating energy demands and the global call for environmentally sound power generation have converged to present tremendous opportunity for Albemarle's leading bromine chemistry, as utilities and industrial plants seek cost-effective solutions to reduce emissions," said Mark C. Rohr, president and chief executive officer.
The transaction will be an all-cash transaction in which the shareholders of Sorbent Technologies could receive approximately $5.75 per share of common stock, which represents an aggregate purchase price of $20 million plus certain anticipated adjustments. The completion of the transaction is subject to certain typical conditions, including Sorbent Technologies shareholder approval.
"Escalating energy demands and the global call for environmentally sound power generation have converged to present tremendous opportunity for Albemarle's leading bromine chemistry, as utilities and industrial plants seek cost-effective solutions to reduce emissions," said Mark C. Rohr, president and chief executive officer.
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