Apollo Global Management has agreed to acquire chemical maker Univar Solutions Inc. for $8.1bn including debt.
Univar shareholders will receive $36.15 a share, the companies said in a statement. The all-cash transaction is expected to close in the second half of the year. Univar shares rose 12% to $34.96 at 2:01 p.m. in New York trading, giving it a market value of about $5.5 billion.
The transaction includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority, according to the statement.
Univar, based in Downers Grove, Illinois, has been on the sales block, with competitor and German chemicals distributor Brenntag SE dropping plans for a bid earlier this year. Univar terminated those discussions in January, saying it would continue talks relating to “other indications of interest.