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 on Monday said the deal values Element at about $50.10 a share, a roughly 15% premium to Thursday's closing price of $43.64 for the Miami Beach, Fla., company.
Solstice, a Morris Plains, N.J., maker of refrigerants and advanced materials that was recently spun out of Honeywell, said it will pay $10 cash and issue half of a share for each share of Element.
The transaction, slated to close in the first half of 2027, is valued at about $14.5 billion including the assumption of debt.
Write to Colin Kellaher at colin.kellaher@wsj.com