Quaker Updates Timing on Houghton Deal

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Quaker Chemicalsaid yesterday it is in discussion with the European Commission and Federal Trade Commission regarding its combination with Houghton International – now expected to close in the fourth quarter of 2018. Based on these discussions, Quaker expects the remedy will involve a divestment of some product lines which, in total, are approximately 3 percent or less of the revenues of the combined company, consistent with Quaker’s original projections and previous comments. The company said it is in discussions with potential buyers for the product lines to be divested and intends to present a remedy that meets the needs of both regulatory authorities in the third quarter.

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