September 24, 2014

Leading global chemical company Arkema proposes to acquire leading adhesive maker Bostik from Total SA. 

It was recently announced that Willkie client Arkema, a global chemical company and France’s leading chemicals producer, has proposed to acquire Bostik from French oil company Total SA for a total enterprise value of  €1.74 billion, representing 11 times the company’s EBITDA.  With about 4,900 employees and over 48 locations worldwide, Bostik is one of the world’s leading adhesive makers.

The transaction would allow Arkema to further strengthen its position in specialty chemicals and to continue developing its High Performance Materials segment. Its growth strategy is based on innovation, an increased presence in emerging markets and targeted acquisitions in new activities.  Total has granted Arkema an exclusivity period to pursue the offer, which will be presented to the relevant employee representative groups and will be subject to certain antitrust approvals.

The multidisciplinary, cross-border Willkie team, led by corporate national partner Grégoire Finance in Paris, includes:  Paris: associates Laure Pistre and Karim Chahine (corporate), partner Jacques-Philippe Gunther, special European counsel Faustine Viala and associate Marion Bailly (antitrust), national partner Vincent Brenot and associate Emilie Patoux (environmental); Frankfurt: partner Mario Schmidt and associate Stephanie Schmidt-Ehemann (corporate), and national partner Bettina Bokeloh (tax); New York: partner Jeffrey Hochman and associate Neil Ruben (corporate), and partner Richard Mancino and Timothy McGinn (litigation); and Washington: of-counsel William Thomas and associate Annise Maguire (environmental).