Lonza To Buy Arch Chemicals For $47.20 per share

Lonza Group AG agreed to buy Arch Chemicals Inc ARJ for $1.2 billion in cash. Lonza will pay $47.20 per share, representing a 36.7% premium to its average closing price over the last 30 days. The deal is likely to be completed by late 2011. Stefan Borgas, CEO of Lonza said, "This transaction represents an excellent strategic and cultural fit. Lonza and Arch Chemicals offer highly complementary products and technologies and together will be the global leader in controlling unwanted microbes. The business will enjoy a strong platform for accelerated future growth for the benefit of all our stakeholders." ARJ shares gained 1.40% to $42.76 in pre-market trading.