Ashland Inc. has completed its acquisition of Hercules Inc. Each share of Hercules common stock outstanding was exchanged for $18.60 in cash and 0.093 of a share of Ashland common stock.
“This is a landmark day for our combined employees, customers, shareholders and all those with whom we interact,” said James J. O’Brien, Ashland chairman and CEO. “Together, we now begin working to build an exciting new future, confident that our people, technologies, products and services will drive our growth for years to come.”
Ashland’s new structure, incorporating the former Hercules businesses, is composed of five commercial units:
• Ashland Hercules Water Technologies, a $2 billion specialty paper and water chemicals business;
• Ashland Performance Materials, the specialty resins business serving construction, infrastructure, energy and transportation segments;
• Ashland Aqualon Functional Ingredients, a fast-growing business of specialty additives and functional ingredients derived from renewable resources;
• Ashland Consumer Markets, the Valvoline lubricants, automotive appearance and service business; and
• Ashland Distribution, a leading distributor of chemicals, plastics, composite materials and environmental services.