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GCP Applied Technologies countersigned a Stock and Asset Purchase Agreement with Henkel on April 27, 2017, for Henkel to acquire its Darex Packaging Technologies business for approximately $1.05 billion. Completion is expected in mid-2017, subject to regulatory approvals.
Henkel made a binding offer to acquire GCP Applied Technologies' Darex Packaging Technologies business for about $1.05 billion, subject to works council consultation and valid until July 3, 2017.
Henkel opened exclusive negotiations with GCP Applied Technologies to acquire Darex Packaging Technologies, a Cambridge, Massachusetts maker of sealants and coatings for metal packaging, for USD 1.05 billion in cash. Darex has about 700 employees at 20 sites.