WR Grace’s acquisition of Synthetech approved by US Bankruptcy Court

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Industrial catalysis firm WR Grace has been OKed to acquire fine chemicals group Synthetech by the US Bankruptcy Court.

The acquisition, plans for which were unveiled in September​, is designed to add chiral chemistry and peptide intermediate synthesis capability to Grace’s offering and further expand its polyolefin catalysis business.

Approval by the District of Delaware Court will be a relief for Synthetech, particularly CEO Gregory Hahn who said the deal “[would create] additional value for all Synthetech stakeholders, including employees, customers, and particularly shareholders.

The merger, which is still subject to clearance by those shareholders, follows a long-running decline in Synthetech’s revenues after lower demand from key international customers.

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