Under the terms of the merger agreement, Innophos will acquire all of the outstanding shares of Novel Ingredients for a total purchase price of $125 million (enterprise value), payable in cash. Innophos will fund the acquisition with borrowings under its existing credit facility. The acquisition is expected to be accretive to Innophos' earnings per share in the first year following the close of the transaction. Closing of the transaction is subject to customary closing conditions, including review under the Hart Scott Rodino Antitrust Improvements Act, and is expected to be completed in the third quarter of 2017.
Baker Botts is representing Innophos Holdings, Inc. in the transaction.
Baker Botts Lawyers/Office Involved: Lee D. Charles (Partner, New York); Jamie Yarbrough (Associate, Houston); Ieuan List (Associate, Houston); Don Lonczak (Partner; Washington); Peter Farrell (Associate, Washington); Aileen Hooks (Partner, Austin); Michael Bodosky (Special Counsel, Washington); Jeremy Gott (Partner; Dallas); Sandra Lee (Partner, New York); Martin Toulouse (Partner; New York); Jon Finelli (Senior Associate, New York); Allyson Mackavage (Associate, New York); Suzanne Hengl (Special Counsel; New York); Rob Fowler (Partner, Houston); Chris Pratt (Special Counsel, Houston); Paul Cuomo (Partner, Washington).
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