Billionaire duo Nicolas Berggruen and Martin E. Franklin agreed to buy Alent Plc for about $2.1 billion to expand the electronic-chemicals part of their investment firm serving makers of mobile phones and cars.
The deal, the company’s eighth in the last three years, would help the combined entity save about $50 million in costs annually before tax. Platform’s most recent acquisition was OM Group Inc’s industrial chemicals unit in June.
Full content: Bloomberg
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