Honeywell spinoff Solstice Advanced Materials NASDAQ:SOLS said on Monday it will buy Element Solutions NYSE:ESI at about $14.5 billion, including debt, in a cash-and-stock deal.
The deal comes less than a year after Solstice completed its spin-off from industrial conglomerate Honeywell International NASDAQ:HON.
The combination would create a larger supplier of materials used in semiconductor manufacturing, electronics and industrial applications.
Element Solutions shareholders will receive $10.00 in cash and 0.500 shares of Solstice common stock for each share of Element common stock.
The transaction is expected to close in the first half of 2027.