Olin to acquire Huntsman in all-stock merger; Olin to issue ~96M shares at 0.5476 exchange ratio

Filed July 13, 2026 · ~2 min read

Key Changes

• high

  Olin will issue approximately 96 million shares to Huntsman stockholders at a fixed 0.5476 exchange ratio, resulting in existing Olin shareholders owning 54.5% and former Huntsman stockholders owning 45.5% of the combined company. The exchange ratio will not adjust for stock price changes before closing.

  Risk Factors verify on EDGAR →
• high

  The combined company will carry approximately $5.1 billion in debt ($3.0B from Olin plus $2.1B from Huntsman as of March 31, 2026). If the merger proceeds via subsidiary structure and Huntsman's 2029/2031 Notes remain below investment grade, the company must offer to repurchase those notes at 101% of principal.

  Risk Factors verify on EDGAR →
• high

  Olin reported a GAAP net loss of $100.5 million for fiscal 2025 on sales of $6.78 billion, despite operating income of $5.3 million. Huntsman reported a GAAP net loss of $284 million for fiscal 2025 on revenues of $5.68 billion, including an operating loss of $131 million.

  Risk Factors verify on EDGAR →