M&A
confidence high
sentiment neutral
materiality 0.50
Olin supplements proxy with valuation details and defends against shareholder suits
OLIN Corp
- Two Huntsman shareholder suits (Jackson, Thompson) and one Olin suit (Palmer) allege omitted material info in proxy; company says claims without merit.
- Lazard DCF used net debt ~$2,804M for Olin, ~$1,908M for Huntsman; shares ~117.5-118M Olin, ~178.1-178.2M Huntsman.
- Citi DCF implies Olin equity $41.40-$56.30/share, Huntsman $15.20-$21.80/share; net debt $3,016M Olin, $2,067M Huntsman.
- Morgan Stanley DCF: Olin equity $29.00-$45.75/share, Huntsman $12.00-$19.25/share; dividends assumed.
- Board reiterates unanimous recommendation to vote FOR all merger proposals.