Update: Kraton ‘intends’ to withdraw from LCY deal

ERJ staff report (PR)

Houston, Texas – The board of Kraton Performance Polymers Inc. intends to withdraw its approval for the previously announced agreement to combine with LCY Chemical Corp.’s styrenic block copolymer (SBC) operations, Kraton announced 30 June.

Under the deal, Kraton is required to give Taiwan-based LCY at least five business days’ written notice of the intention to withdraw or change its recommendation. During this time, the parties can negotiate revisions or adjustments to the terms of the ‘combination agreement’, which was signed…

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