Synthomer’s $824 Million Acquisition Of OMNOVA


Cravath and Herbert Smith Freehills, represented Synthomer in connection with the transaction. Morgan Stanley & Co. LLC acted as exclusive financial advisor to OMNOVA. Solutions and Jones Day acted as its legal counsel.

Synthomer plc (“Synthomer”), a United Kingdom-based specialty chemical company, acquired OMNOVA Solutions Inc. (“OMNOVA”), a global manufacturer of emulsion polymers, specialty chemicals and surfaces, for $10.15 per share in cash, which implies an enterprise value of $824 million.

The Cravath team is led by partners Mark I. Greene and G.J. Ligelis Jr. and includes associates Virginia M. Anderson, Joanna Pak and Parth S. Baxi on M&A matters; partners Stephen L. Gordon and Christopher K. Fargo, associate Rory M. Minnis and foreign associate attorney Nicolaas Versteeg on tax matters; partners Craig F. Arcella and Stephen M. Kessing and associate Aashim Usgaonkar on financing matters; partner Margaret Segall D’Amico and senior attorney Jesse M. Weiss on antitrust matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Eric W. Hilfers and associate Daniel P. Herrmann on executive compensation and benefits matters; partner David J. Perkins, senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters; and partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters. Summer associate Steven Jaffe also worked on M&A matters.

Involved fees earner: Virginia Anderson – Cravath Swaine & Moore; Craig Arcella – Cravath Swaine & Moore; Parth Baxi – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Margaret Segall D’Amico – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; Stephen Gordon – Cravath Swaine & Moore; Mark Greene – Cravath Swaine & Moore; Daniel Herrmann – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Steven Jaffe – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Stephen Kessing – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; G.J. Ligelis Jr. – Cravath Swaine & Moore; Anthony N. Magistrale – Cravath Swaine & Moore; Rory Minnis – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Joanna Pak – Cravath Swaine & Moore; David Perkins – Cravath Swaine & Moore; Annmarie Terraciano – Cravath Swaine & Moore; Aashim Usgaonkar – Cravath Swaine & Moore; Nicolaas Versteeg – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Synthomer plc;