Olin Corporation’s Merger of Equals with Huntsman Corporation

On June 16, 2026, Olin Corporation and Huntsman Corporation announced that they have entered into a definitive agreement to combine in an all-stock merger of equals to create a $12+ billion North American chemicals leader. Under the terms of the agreement, Huntsman shareholders will receive 0.5476 shares in Olin for every one share of Huntsman. Upon completion of the transaction, Olin shareholders will own approximately 54.5% and Huntsman shareholders will own approximately 45.5% of the combined company, which will be renamed OlinHuntsman Corporation. Upon closing of the transaction, current Olin President and Chief Executive Officer, Ken Lane, will serve as Chief Executive Officer of OlinHuntsman. Current Chairman, President and Chief Executive Officer of Huntsman, Peter Huntsman, will serve as non-executive Chairman of OlinHuntsman’s Board of Directors. OlinHuntsman’s Board of Directors will consist of ten members, with equal representation from Olin and Huntsman. The transaction is expected to close in the first half of 2027, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and the approval of Olin’s shareholders and Huntsman’s shareholders. Cravath is representing Olin Corporation in connection with the transaction.

The Cravath team is led by partners Robert I. Townsend III, Joseph D. Zavaglia and Jin-Kyu Baek and includes associates Evan S. Gabor, Laureano Genin, E. Celeste Kearney and E. Liza Park and foreign associate attorney Yasutaka Hosaka on M&A matters; partners Lauren Angelilli and Arvind Ravichandran and associate Carolyn Liziewski on tax matters; partner Kelly M. Smercina and associate Harold C. King on financing matters; partner Eric W. Hilfers and associates Brendon J. Klein and Matthew S. Johnson on executive compensation and benefits matters; partner Ryan J. Wichtowski and of counsel Carys J. Webb on intellectual property matters; of counsels Joyce Law and Brian M. Budnick and practice area attorney Lauren Piechocki on real estate matters; and of counsel Annmarie M. Terraciano and Star S. Gulant on environmental matters. Yasmeen Shrestha also worked on tax matters and Jason Yung Liang worked on intellectual property matters.