Solstice Stock Tumbles on $12 Billion Deal for Element — WSJ

By Colin Kellaher

Solstice Advanced Materials has struck a deal to buy specialty chemicals maker Element Solutions for more than $12 billion in cash and stock.

Solstice, which was recently spun out of Honeywell, said the deal values Element at roughly 15% premium to Thursday's closing price of $43.64 for the Miami Beach, Fla., company.

Still, Element shares slipped; Solstice stock retreated more than 12%.

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