Apollo Management, L.P. to acquire Borden Chemical, Inc.Apollo Management, L.P., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY, a private investment firm, has agreed to acquire Borden Chemical, Inc., Columbus, OH. Borden Chemical is a leading supplier of thermoset A polymer-based liquid or powder that becomes solid when heated, placed under pressure, treated with a chemical or via radiation. The curing process creates a chemical bond that, unlike a thermoplastic, prevents the material from being remelted. See thermoplastic. and other high performance resins, adhesives, and specialty chemicals and has 2400 employees worldwide. The approximate $1.2 billion acquisition includes the assumption of outstanding debt, and is subject to regulatory approval and other closing conditions. Also included in the acquisition are certain members of Borden Chemical's management. The transaction is scheduled to be completed in the third quarter of 2004. Because Apollo Management is acquiring Borden Holdings, the parent of Borden Chemical, Inc., from BW Holdings LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an affiliate of Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co., Borden's May 2004 registration statement filed with the Securities and Exchange Commission announcing its intent to conduct an initial public offering of common stock in the third quarter has been suspended. |
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