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(Reuters) - Lanxess AG said on Sunday it would buy specialty chemical company Chemtura Corp for about $2.12 billion in cash to improve the German company's additives business. Lanxess's offer of $33.50 for each Chemtura share, represents a premium of about 19 percent to the Philadelphia-based company's close on Friday. The world's largest synthetic rubber maker will use existing funds and new debt to buy Chemtura in a deal with an enterprise value of about 2.4 billion euros ($2.69 billion), Lanxess said in a statement.
Arnold Palmer brought a country club sport to the masses with a hard-charging style, charisma and a commoner's touch. At ease with both presidents and the golfing public, and on a first-name basis with ...
Rory McIlroy rolled in a 14-foot birdie putt at the fourth hole of a sudden death playoff to edge Ryan Moore for the USPGA Tour Championship and claim the $10 million FedExCup playoff bonus. With the playoff prize and the $1.53 million winner's check, four-time major champion McIlroy earned a total payday of $11.53 million at East Lake in Atlanta, Georgia. "It was incredible," said McIlroy, who with his victory in the Deutsche Bank Championship has won $13.81 million in the playoffs.