Solstice Advanced Materials NASDAQ:SOLS, which was spun off from Honeywell NASDAQ:HON last year, is in talks to merge with chemicals company Element Solutions NYSE:ESI, the Financial Times reported on Monday.
The two companies are discussing a merger of equals and a deal could create a combined firm valued at about $27 billion, including debt, the report said, citing people familiar with the talks.
Reuters could not immediately verify the report. Solstice Advanced Materials and Element Solutions did not immediately respond to Reuters requests for comment.
Solstice Advanced Materials has a market value of about $12.73 billion, while Element Solutions is valued at $10.63 billion, according to LSEG data.