US government shutdown delays Momentive takeover

Waterford, New York – The US government shutdown, which came to an end 26 Jan – has delayed Momentive Performance Materials Inc.’s takeover.

In a filing with the US Securities and Exchange Commission, Momentive said that it has agreed to extend the deadline to 13 June in order to obtain merger clearance from the US authorities.

A consortium of three South Korean firms — KCC Corp., Wonik QnC Corp. and SJL Partners LLC — are buying MPM Holdings Inc., the parent company of global silicones supplier Momentive.

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