Olin Corporation and Huntsman Corporation have entered into a definitive agreement to combine in an all-stock merger of equals. The transaction will create a leading North American chemicals company named OlinHuntsman Corporation. Headquartered in The Woodlands, Texas, the new combined organization will feature a global manufacturing platform serving the automotive, construction, infrastructure, and industrial markets.

Strategic and financial rationale

• Creates a US$12B+ North American chemicals leader: On a combined company basis, Olin and Huntsman had a 2025 revenue of approximately US$12.5 billion. Olin’s ammunition business, Winchester, will continue to operate as a key business within the merged company.

• Vertical integration improves cost position: The merger combines Olin's manufacturing and feedstock capabilities (including chlorine and caustic soda) with Huntsman's downstream products and formulation expertise. This structure lowers costs and expands the ability to convert Electrochemical Units production into downstream materials.

• US$400M+ cost synergies and integration benefits: a) Over US$300 million in cost synergies will be achieved, with the vast majority realized within 24 months and full realization by year three. b) An additional US$100 million in raw material integration benefits will start in 2031.

• Enhanced scale and capital allocation: The all-stock structure preserves balance sheet strength, expands chlorine optionality, and improves earnings and cash flow generation through market cycles.

Transaction timeline and approvals

Both boards have unanimously approved the deal, which is expected to close in the first half of 2027. Completion remains subject to regulatory approval and votes from both sets of shareholders.