- Chemicals company Synthomer said it had agreed to acquire the Adhesive Resins business of Eastman Chemical Company for $1 billion.

Adhesive Technologies' positioning, and technology with a focus on attractive end markets such as hygiene, packaging and high performance tyre additives were 'highly complementary to our existing business,' Synthomer said.

The acquisition was expected to deliver double digit EPS accretion from the first year, the company said.

A shareholder meeting would be called in November to back the acquisition, with completion of the deal, if approved, expected to be completed in Q1 2022.

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