On September 25, 2016, Chemtura announced they had accepted an offer from Lanxess AG of Germany of 33.50 per share, all cash. The boards of both companies unanimously approved the deal that September, with Chemtura's enterprise value estimated at US$2.7 billion. After US antitrust authorities approved the deal in December 2016, Chemtura shareholders approved the acquisition in February 2017. On April 21, 2017, Chemtura was officially acquired by Lanxess for $2.1 billion in cash. It was the largest acquisition in Lanxess' history, with Lanxess absorbing around 2,500 Chemtura employees at 20 sites in 11 countries.
