$15.650
+0.100 (+0.64%)At close
OLN News
OLN Events
Skyworks Solutions Acquires Qorvo
Skyworks Solutions (SWKS) is acquiring Qorvo (QRVO) in a deal expected to be completed soon, pending final closing conditions.
Olin and Huntsman Merger Waiting Period Expired
Olin (OLN) and Huntsman (HUN) announced that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the pending merger of the two companies has expired. The expiration of the HSR Act waiting period satisfies one of the key closing conditions to the pending merger of equals. As previously announced, on August 25, shareholders of both companies overwhelmingly approved the transaction. The closing of the transaction remains subject to satisfaction of certain customary closing conditions, including receipt of additional regulatory approvals, which are underway.
Olin and Huntsman Complete All-Stock Merger
Olin (OLN) and Huntsman (HUN) announced that their respective shareholders have approved the proposals necessary to complete the companies' previously announced all-stock merger of equals. "Based on these preliminary voting results, subject to the satisfaction of other closing conditions, the transaction will proceed through a direct merger of Olin and Huntsman," the companies said.
Olin Reports Q2 Revenue of $1.74B, Below Expectations
Reports Q2 revenue $1.74B, consensus $1.81B. Ken Lane, President and Chief Executive Officer, said, "The Olin team delivered sequential improvement in adjusted EBITDA in a highly volatile environment. Our Chlor Alkali Products and Vinyls business benefited from improved caustic soda and ethylene dichloride pricing and from favorable operating performance driven by our Beyond250 structural cost actions. However, partially offsetting this performance was an unplanned shutdown of the vinyl chloride monomer plant in Freeport, Texas. Operations have resumed at reduced rates. The disruption reduced second quarter adjusted EBITDA by $40 million, with an estimated $20 million impact expected in the third quarter as full rates are planned to resume late in the quarter. Epoxy continued to improve as margins expanded despite persistent weak demand conditions in Europe. Winchester's sequential improvement was driven by stronger commercial demand and pricing actions implemented to offset commodity metals and raw materials cost inflation.
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