We are advising Solstice on the transaction

Davis Polk is advising Solstice Advanced Materials US, Inc. on its acquisition of Element Solutions Inc. in a cash-and-stock transaction valued at approximately $14.5 billion. The transaction is expected to create an industry-leading advanced materials platform with increased exposure to high-growth electronics, AI infrastructure and other attractive end markets. Upon closing, Element shareholders are expected to own approximately 44% of the combined company. The transaction is expected to close in the first half of 2027, subject to customary closing conditions, including receipt of required regulatory approvals.

Solstice is a leading global specialty materials company that advances science for smarter outcomes. The company provides high-performance solutions for critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, and healthcare packaging. Solstice serves more than 3,000 customers across more than 120 countries and territories.

Element Solutions is a leading global specialty chemicals technology company whose businesses supply solutions that enhance the performance of products used every day. Its technologies support manufacturing processes across a range of industries, including semiconductor fabrication, high-performance computing, automotive systems, consumer electronics, communications and data storage infrastructure, aerospace and defense, industrial surface finishing, and offshore energy.

The Davis Polk corporate team is led by partner William J. Curtin III in the Washington DC office.

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