Benzinga | Dec 9, 2021 09:58PM EST

Kraton Stockholders Approve Acquisition By DL Chemical For $46.50/Share

Kraton Corporation (NYSE:KRA) ("Kraton"), a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, today announced that its stockholders approved the proposed acquisition of Kraton Corporation by DL Chemical Co, Ltd. ("DL Chemical"). Under the terms of the definitive merger agreement with DL Chemical, Kraton stockholders will receive $46.50 in cash for each share of Kraton common stock they own.

"We are pleased that our stockholders have voted overwhelmingly in favor of the merger with DL Chemical," said Kevin M. Fogarty, Kraton's President and Chief Executive Officer. "We believe the transaction provides significant value for Kraton stockholders, and that the ownership of Kraton by DL Chemical will extend Kraton's global reach and provide a broad platform for further investment in, and expansion of, Kraton's product offerings for the benefit of all of Kraton stakeholders."