Eastman Chemical

:

Solutia

Dealogic Deal #  :

789836

Data as of :

9/27/2012

Target

Acquiror

Dates & Values

Solutia

Eastman Chemical

Target:

100

% stake

Buying:

100

% stake

Rumored

-

Deal Value $m

4,754.9

NY

SOA

122

m shares outstanding

Public (Listed)

Announced

27th Jan 2012

Value ex Debt $m

3,502.9

United States

United States

Chemicals

Chemicals

Expected

2Q 2012

Consideration

Deutsche Bank | Advisor

Barclays | Advisor

Completed

-

Perella Weinberg | Advisor

Citi | Advisor

Moelis & Co | Advisor

Jones Day | Attorney

Withdrawn

-

Valence Group | Fairness Opinion

Kirkland & Ellis | Attorney

Termination Fee, Target $m

tbd

Termination Fee, Acquiror $m

tbd

Financials

30th Sep 2011

Balance Sheet

Debt/Equity:

2.8

Timeline Events

Premiums & Multiples

Initial Offer

$28

Current Offer

$28

Income Statement

Cash Flows

Operations $m

223

Profitability

Profit Margin

14%

Return on Equity

27%

League Table Impact

Sector Trend

2012 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Chemicals

1

Citi

23.7

2

Goldman Sachs

23.2

3

Barclays Capital

19.5

4

JPMorgan

18.4

5

Deutsche Bank

10.9

6

Credit Suisse

9.3

7

SMFG

7.3

8

RBS

7.3

9

BAML

7.3

10

Greenhill & Co

6.8

11

Moelis & Co

6.8

17

Perella Weinberg

4.7

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