Web Date: May 31, 2011
Ashland Moves Deeper Into Specialties
Ashland has agreed to buy specialty chemicals maker International Specialty Products (ISP) for $3.2 billion in cash. The acquisition will expand Ashland's portfolio of products for the personal care and pharmaceutical markets, which the company has targeted for their high margins, high growth rates, and relative immunity to economic downturns.
Privately held ISP had $1.6 billion in sales for the 12 months ending on March 31 and earnings before interest, taxes, . . .
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