Univar Confirms Brenntag Ended Buy-out Talks; Says Evaluating Other Indications Of Interest

(RTTNews) - Univar Solutions Inc. (UNVR) confirmed Monday that Brenntag (BNTGF.PK) has ended its discussions with the company about a potential acquisition.

Univar said it will continue discussions relating to other indications of interest that have been received with respect to a potential transaction. There can be no assurance that the ongoing process will result in any transaction.

Earlier today, German chemicals distributor Brenntag said that it has decided to terminate its preliminary buy-out discussions with Univar Solutions.

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.