Apollo Global to Buy Univar in $8.1 Billion Deal, Including Debt

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Apollo Global to Buy Univar in $8.1 Billion Deal, Including Debt

The Wall Street Journal2023-03-14

Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent ...

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·2023-03-15
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Shares of Univar closed at $31.17 on Monday.</p><p>In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.</p><p>Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.</p><p>The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier &amp; Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.</p><p>Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.</p><p>On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. 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Shares of Univar closed at $31.17 on Monday.In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier & Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. 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Shares of Univar closed at $31.17 on Monday.</p><p>In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.</p><p>Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.</p><p>The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier &amp; Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.</p><p>Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.</p><p>On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. The buyout firms plan to use very little debt to pay for the deal.</p><p>Together, the Qualtrics, Univar andother takeoversthis week show that the collapse of Silicon Valley Bank and the tremors it has sent through financial markets have yet to scare away deal makers.</p><p></p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apollo Global to Buy Univar in $8.1 Billion Deal, Including Debt</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApollo Global to Buy Univar in $8.1 Billion Deal, Including Debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-14 19:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent ...</p>\n\n<a href=\"https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UNVR":"Univar Solutions Inc.","APO":"阿波罗全球管理"},"source_url":"https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111941749","content_text":"Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent leveraged buyouts.Univar shares jumped 13.57% on the news.The deal is expected to value Univar at $36.15 a share and to be unveiled Tuesday, the people said. Shares of Univar closed at $31.17 on Monday.In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier & Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. The buyout firms plan to use very little debt to pay for the deal.Together, the Qualtrics, Univar andother takeoversthis week show that the collapse of Silicon Valley Bank and the tremors it has sent through financial markets have yet to scare away deal makers.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949486316,"gmtCreate":1678831033736,"gmtModify":1678831037876,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576260758860416","authorIdStr":"3576260758860416"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949486316","repostId":1111941749,"repostType":2,"repost":{"id":"1111941749","kind":"news","pubTimestamp":1678793597,"share":"https://ttm.financial/m/news/1111941749?lang=&edition=fundamental","pubTime":"2023-03-14 19:33","market":"us","language":"en","title":"Apollo Global to Buy Univar in $8.1 Billion Deal, Including Debt","url":"https://stock-news.laohu8.com/highlight/detail?id=1111941749","media":"The Wall Street Journal","summary":"Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 b","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/c0b0be0fa7e5880f2594506f2350ac27\" tg-width=\"860\" tg-height=\"574\" referrerpolicy=\"no-referrer\"/>Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent leveraged buyouts.</p><p>Univar shares jumped 13.57% on the news.</p><p><img src=\"https://static.tigerbbs.com/436de7185ef85169450d2da9ce7c4f97\" tg-width=\"808\" tg-height=\"831\" width=\"100%\" height=\"auto\"/></p><p>The deal is expected to value Univar at $36.15 a share and to be unveiled Tuesday, the people said. Shares of Univar closed at $31.17 on Monday.</p><p>In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.</p><p>Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.</p><p>The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier &amp; Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.</p><p>Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.</p><p>On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. The buyout firms plan to use very little debt to pay for the deal.</p><p>Together, the Qualtrics, Univar andother takeoversthis week show that the collapse of Silicon Valley Bank and the tremors it has sent through financial markets have yet to scare away deal makers.</p><p></p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apollo Global to Buy Univar in $8.1 Billion Deal, Including Debt</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApollo Global to Buy Univar in $8.1 Billion Deal, Including Debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-14 19:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent ...</p>\n\n<a href=\"https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UNVR":"Univar Solutions Inc.","APO":"阿波罗全球管理"},"source_url":"https://www.wsj.com/articles/apollo-global-to-buy-univar-in-8-1-billion-deal-including-debt-e5061000?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111941749","content_text":"Apollo Global ManagementInc. has agreed to acquire chemical company Univar Solutions Inc. for $8.1 billion including debt, according to people familiar with the matter, in one of the biggest recent leveraged buyouts.Univar shares jumped 13.57% on the news.The deal is expected to value Univar at $36.15 a share and to be unveiled Tuesday, the people said. Shares of Univar closed at $31.17 on Monday.In early January, Univar said it had ended discussions withBrenntag SEBNR-1.16%decrease; red down pointing triangleabout a merger with the German chemicals company and would continue exploring a deal with other interested parties.Univar is a global specialty chemical and ingredients business that supplies manufacturers in the food, pharmaceutical and cleaning industries, among others.The company is no stranger to deal making, or to private-equity ownership. It was backed by private-equity investors CVC Capital Partners and Clayton, Dubilier & Rice LLC before going public in 2015. In 2019, it bought rival Nexeo Solutions Inc. and sold a plastics business it acquired in the deal later that year.Apollohas been busy of late, even as a worsening in credit conditions and a turbulent stock market havecrimped buyout activity. The firm, which has more than $500 billion in assets under management, in Februarymade a bid foraerospace-parts makerArconicCorp., The Wall Street Journal reported. In August, an Apollo-led group agreed to buy airfreight companyAtlas Air Worldwide HoldingsInc. for$3.2 billion.On Monday, Silver Lake and the Canada Pension Plan Investment Board agreed to purchaseQualtrics InternationalInc. in a deal valuing the software company at some $12.5 billion and marking the largest private-equity transaction so far this year. The buyout firms plan to use very little debt to pay for the deal.Together, the Qualtrics, Univar andother takeoversthis week show that the collapse of Silicon Valley Bank and the tremors it has sent through financial markets have yet to scare away deal makers.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":54,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}