Specialty Chemicals | Cary, NC | Corporate Acquisition
Indian crop solution company UPL has agreed to acquire the agricultural solutions business of Platform Specialty Products for $4.2 billion in cash. The unit includes Arysta LifeScience, a provider of chemicals to the agricultural industry, and its subsidiaries. PSP has also announced plans to change its name to Element Solutions once the transaction closes; it will list on the NYSE under the ticker symbol ESI. Shares of PSP (NYSE: PAH) plunged more than 7% Friday.