Alent Says Offer To Be Bought By Platform Specialty Gets German Clearance

(RTTNews) - Alent Plc. (ALNT.L), a supplier of advanced consumable specialty chemicals and engineered materials, announced Thursday that that the recommended offer for the entire issued and to be issued share capital of Alent by MacDermid Performance Acquisitions Ltd, an indirect subsidiary of Specialty chemicals company Platform Specialty Products Corp. (PAH), has received antitrust clearance from the Federal Cartel Office in Germany.

The latest clearance follows the clearances received from the US and South Korean anti-trust authorities for the proposed acquisition. All other anti-trust and regulatory filings for the proposed acquisition have been initiated and are proceeding in the normal course.

The company said the Scheme is expected to become effective in late 2015 or early 2016, subject to the satisfaction or waiver of the other Conditions.

It was in mid July that Platform Specialty proposed to acquire chemicals producer Alent in a cash and stock deal for about $2.1 billion. Including net debt, the total transaction value is about $2.3 billion.

In London, Alent shares were trading at 490.50 pence, up 1.70 percent.