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Item 8.01 Other Events.
As previously disclosed, on December 19, 2019, PolyOne Corporation ("PolyOne") entered into a definitive share purchase agreement (the “Agreement”) with Clariant AG (“Clariant”), and a wholly owned subsidiary of PolyOne (“PolyOne India”)
entered into a definitive business transfer agreement (the “BTA”) with Clariant Chemicals (India) Limited, an indirect majority-owned subsidiary of Clariant (“Clariant India”). Pursuant to the Agreement and the BTA, PolyOne has agreed to acquire the masterbatch business of Clariant (the “Masterbatches Business of Clariant Ltd”).
The audited combined financial statements of the Masterbatches Business of Clariant Ltd, which comprise the combined balance sheets as of December 31, 2018 and 2017, the related combined statements of income, statements of comprehensive income, statements of changes in equity and statements of cash flows for the years then ended and related notes thereto, are filed as Exhibit 99.1 to
this Current Report on Form 8-K.
The unaudited interim combined financial statements of the Masterbatches Business of Clariant Ltd, which comprise the combined balance sheets as of September 30, 2019 and December 31, 2018, the related combined statements of income, statements of comprehensive income, statements of changes in equity and statements of cash flows for the nine-month periods ended September 30, 2019 and 2018 and related notes thereto, are filed as Exhibit 99.2 to this Current Report on Form 8-K.
The unaudited pro forma condensed combined balance sheet as of
September 30, 2019 and the unaudited pro forma condensed combined statements of income for the year ended December 31, 2018 and the nine months ended September 30, 2019 giving effect to PolyOne’s acquisition of the Masterbatches Business of Clariant Ltd and the previously announced divestiture of the Company's Performance Products and Solutions business segment are filed as Exhibit 99.3 to this Current Report on Form 8-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
