Olin’s Acquisition of K.A. Steel
July 18, 2012
On July 18, 2012, Olin Corporation announced that it has signed a definitive agreement to acquire privately held K.A. Steel Chemicals, Inc. (KA Steel), on a cash and debt-free basis, for $328 million in cash, subject to certain post-closing adjustments. Cravath represented Olin in connection with this transaction. KA Steel, headquartered in Lemont, Illinois, is one of the largest distributors of caustic soda in North America and one of the leading bleach manufacturers in the Midwest. Olin expects to finance the acquisition using a combination of cash on hand and existing borrowing facilities. The closing of the acquisition is conditioned upon regulatory approval and other customary closing conditions and is expected to occur by the end of the third quarter of 2012.
The Cravath team included partners Robert I. Townsend III and George F. Schoen and associate Michael S. Darby on M&A matters; partner Michael L. Schler and associates William B. Abbott and Rachel H. Kiwi on tax matters; practice area attorney M.C. Tania Balthazaar on executive compensation and benefits matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; and senior attorney John Gerhard and practice area attorney Joyce Law on real estate matters. Summer associates Debra Aboodi and Charles Griffin also worked on M&A matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1990, Harvard Law Schoolmagna cum laude
-
A.B., 1987, Harvard Collegemagna cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
-
M.S., 1994, University of Pennsylvania
-
B.A., 1990, University of Pennsylvania
-
B.A.S., 1990, University of Pennsylvania
- New York
Education
Admitted In
- Photo
-
-
J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
-
M.S., 1994, University of Wisconsin - Madison
-
B.A., 1989, Wellesley Collegecum laude
- New York
Education
Admitted In
-
J.D., 1997, Boston University School of Law
-
B.Comm., 1994, University of AlbertaDistinction
- New York
Education
Admitted In
- Photo
-
-
LL.M., 1979, New York University
-
J.D., 1973, Yale Law School
-
B.A., 1970, Harvard Universitymagna cum laude
Education
Related News & Insights
Deals & Cases
June 16, 2026
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.
