RTTNews | Sep 27, 2021 11:06AM EDT

11:06 Monday, September 27, 2021 (RTTNews.com) - Specialty chemicals company Kraton Corporation (KRA) is trading 9% higher on Monday after the company agreed to be acquired by DL Chemical Co., Ltd in an all-cash $2.45 billion deal. Kraton shareholders will receive $46.50 in cash for each common share, according to the terms. The deal is expected to close in the first half of 2022.

Dan Smith, Chairman of Kraton's Board said, "Today's announcement marks the culmination of the strategic review process for Kraton, resulting in a transaction that we believe provides significant value for Kraton stockholders. In addition, we believe the scale and strength of the combined company will also benefit our customers and our employees, as it will expand Kraton's global reach while creating a robust platform to further support investment in the existing innovation pipeline and provide for further expansion of sustainable offerings."

The shares are trading hands at $44.85, up $3.33 or 8.02% since the previous close at $41.52 on Friday. The shares opened at $44.67 in the morning. In the 52-week period, the shares have ranged between $16.31 and $45.89 per share.

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