18 Jun 2026
Olin Corporation and Huntsman Corporation have announced a definitive agreement to merge in an all-stock transaction, forming one of North America's largest diversified chemical companies. The merger, announced on 16 June, will create a combined business to be known as Olin-Huntsman Corporation, with its headquarters in The Woodlands, Texas. Based on 2025 financials, the new company is expected to generate approximately USD 12.5 billion in annual revenue.
Olin Corporation and Huntsman Corporation have announced a definitive agreement to merge in an all-stock transaction, forming one of North America's largest diversified chemical companies. The merger, announced on 16 June, will create a combined business to be known as Olin-Huntsman Corporation, with its headquarters in The Woodlands, Texas. Based on 2025 financials, the new company is expected to generate approximately USD 12.5 billion in annual revenue.
Under the terms of the agreement, Huntsman shareholders will receive 0.5476 shares of Olin for each Huntsman share they own. Following the completion of the transaction, Olin shareholders will hold approximately 54.5% of the combined company, while Huntsman shareholders will own the remaining 45.5%. The exchange ratio was determined using the companies' 30-day volume-weighted average share prices as of 12 June.
Combining Complementary Chemical Businesses
Founded in 1892 and headquartered in Clayton, Missouri, Olin is a vertically integrated producer of chlor-alkali chemicals, including chlorine, caustic soda, vinyls, epoxies, and chlorinated organics. The company also owns the Winchester ammunition business, making it the largest ammunition manufacturer in the United States. Olin generated approximately USD 6.8 billion in revenue over the trailing twelve months prior to the announcement.
Huntsman, established in 1970 and headquartered in The Woodlands, Texas, manufactures specialty and performance chemicals through its polyurethanes, performance products, and advanced materials businesses. Its largest division focuses on polyurethane technologies based on methylene diphenyl diisocyanate (MDI) and polyols. The company reported around USD 6 billion in revenue from continuing operations in 2025 and operates more than 55 manufacturing facilities across approximately 25 countries, employing around 6,000 people.
Strengthening the Value Chain
The merger is designed to create greater vertical integration across the chemical value chain. Olin's strong position in upstream chlor-alkali and feedstock production complements Huntsman's expertise in downstream polyurethane systems, advanced materials, and specialty formulations. By combining these capabilities, the companies expect to improve production efficiencies, strengthen margins, reduce raw material costs, and capture greater value throughout the manufacturing process.
The combined business will continue serving key industries such as automotive, construction, infrastructure, and industrial manufacturing, while expanding its ability to provide integrated chemical solutions.
Expected Financial Benefits
Olin and Huntsman anticipate achieving more than USD 400 million in annual cost synergies and operational efficiencies, with most savings expected within the first two years after closing and full realization by the end of the third year. These benefits are expected to come from procurement efficiencies, raw material integration, operational improvements, and reductions in selling, general, and administrative expenses.
In addition, the companies project approximately USD 100 million in further raw material integration benefits beginning in 2031, along with around USD 125 million in cash tax advantages through accelerated utilization of net operating losses. The all-stock structure is intended to preserve financial flexibility while supporting rapid debt reduction following the merger.
Leadership and Timeline
Following the completion of the transaction, Ken Lane, President and CEO of Olin, will lead the combined company as Chief Executive Officer. Peter Huntsman, Chairman, President and CEO of Huntsman, will become Non-Executive Chairman of the Board.
Phil Lister, Huntsman's Executive Vice President and CFO, will assume the role of Chief Financial Officer of Olin-Huntsman, while Todd Slater, Olin's Senior Vice President and CFO, will oversee the integration process as Chief Integration Officer. The new board will consist of ten directors, equally nominated by both companies.
The merger has received unanimous approval from the boards of both companies and is expected to close during the first half of 2027, subject to regulatory clearances and approval from shareholders of both Olin and Huntsman.
The detailed article is published by https://www.huntsman.com/ can be accessed from https://www.huntsman.com/news/media-releases/detail/626/olin-and-huntsman-announce-transformative-merger-of-equals
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