Arch Chemicals’s Acquisition by Lonza Group

On July 11, 2011, Lonza Group Ltd., one of the world’s leading suppliers to the pharmaceutical, healthcare and life science industries, and Arch Chemicals, Inc., a global biocides company, announced that they have signed an agreement pursuant to which Lonza has agreed to commence a tender offer for 100 percent of Arch Chemicals’s outstanding shares of common stock at a price of USD$47.20 per share in cash, for a total enterprise value of USD$1.4 billion. Cravath represented Arch Chemicals in this transaction.

This acquisition will create the world’s leading microbial control business. The Board of Directors of Arch Chemicals unanimously recommends Lonza’s cash offer to the Arch Chemicals shareholders. Lonza expects to complete the tender offer later in 2011.

The Cravath team includes partner Robert I. Townsend III and associates Andrew R. Bonnes and Katerina M. Novak on corporate matters; practice area attorney M. C. Tania Balthazaar and associate Audry X. Casusol on executive compensation and benefits matters; partner Michael L. Schler and associate Melissa Moszkowski on tax matters; partner Peter T. Barbur on antitrust matters; and practice area attorney Matthew Morreale on environmental matters. Summer associates Teel T. Lidow, Michael R. Miller and Julian P. Smoller also worked on corporate matters.