Univar Solutions slipped about 2% on Jan. 3 after the chemical distributor confirmed that German-based Brenntag SE ended discussions about a potential takeover (GM Dec. 2, 2022), according to Bloomberg. Univar said it would continue talks related to “other indications of interest” that it has received with respect to a potential transaction. However, it said there is no assurance that the ongoing process will result in a transaction.
A Univar-Brenntag deal would have created the world’s largest chemical distributor and establish a company with more than $30 billion in sales.