Synthomer’s Acquisition of OMNOVA

On July 3, 2019, Synthomer plc (“Synthomer”), a United Kingdom-based specialty chemical company, announced that it has entered into a definitive agreement to acquire OMNOVA Solutions Inc. (“OMNOVA”), a global manufacturer of emulsion polymers, specialty chemicals and surfaces, for $10.15 per share in cash, which implies an enterprise value of $824 million. Cravath, alongside Herbert Smith Freehills, is representing Synthomer in connection with the transaction.

The Cravath team is led by partners Mark I. Greene and G.J. Ligelis Jr. and includes associates Virginia M. Anderson, Joanna Pak and Parth S. Baxi on M&A matters; partners Stephen L. Gordon and Christopher K. Fargo, associate Rory M. Minnis and foreign associate attorney Nicolaas Versteeg on tax matters; partners Craig F. Arcella and Stephen M. Kessing and associate Aashim Usgaonkar on financing matters; partner Margaret T. Segall and senior attorney Jesse M. Weiss on antitrust matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Eric W. Hilfers and associate Daniel P. Herrmann on executive compensation and benefits matters; senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters; and partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters. Summer associate Steven Jaffe also worked on M&A matters.