M&A · Energy · Chemicals & Allied Products
OLIN Corp to acquire Huntsman Corp
Announced Jun 16, 2026 · Pending Jul 13, 2026
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- OLIN Corp (OLN)
- Target
- Huntsman Corp (HUN)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Pending Jul 13, 2026
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Lazard
- To the target
- Citigroup, Morgan Stanley
- Lazard fee
- $24.0M
- Citigroup fee
- $21.0M
Sector context · Energy
- Comparable deals
- 30 in the prior 24 months
- Premium
- Sector median 37.3%
- EV / Adj. EBITDA
- Sector median 9.4x
- Break fee
- Sector median 3.0%
Timeline
- AnnouncedJun 16, 2026
- Proxy filedJul 13, 2026
- Definitive proxyJul 13, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Discounted cash flowLazard$44.30$58.15
Discounted cash flowLazard$17.50$25.30
Sum of the partsLazard$24.70$35.50
Sum of the partsLazard$11.35$15.80
Future share priceLazard$41.98$53.01
Discounted cash flowCitigroup$15.20$21.80
Discounted cash flowCitigroup$0.82$0.88
Discounted cash flowCitigroup$41.40$56.30
Trading comparablesCitigroup$7.20$15.90
Trading comparablesCitigroup$12.70$17.60
Implied value per Huntsman Corp share by analysis, from Lazard and Citigroup · DCF discount rate 9.25%–10.25%.