Olin and Huntsman Agree to All-Stock Merger, Forming OlinHuntsman

Olin and Huntsman said Tuesday they will combine in an all-stock merger that creates a larger North American chemicals company called OlinHuntsman.

The companies said the transaction values Huntsman at about $2.43 billion based on Olin's closing share price. Under the agreement, Huntsman shareholders will receive 0.5476 Olin shares for each Huntsman share.

Olin shareholders are expected to own about 54.5% of the combined company, while Huntsman shareholders will own about 45.5%. The companies said the merged business generated about $12.5 billion in revenue over the past year.

Deal terms

The exchange ratio was set using a trailing 30-day volume-weighted average price measured as of June 12, 2026. That pricing method matters because it ties the merger value to a recent trading average rather than a single-day closing price.

Barron's reported later in the day that the market focused on the apparent discount for Huntsman relative to its prior close. The companies have framed the structure as a way to reflect current market conditions and smooth recent share-price volatility.

Olin is based in Clayton, Missouri, and Huntsman is based in The Woodlands, Texas. The combination joins Olin's chemical inputs business with Huntsman's downstream chemical products.

Why the companies want the deal

The companies said they have identified more than $300 million in cost synergies and integration benefits. Most of those gains are expected within two years after closing.

They also expect $100 million in raw-material integration benefits starting in 2031 and about $125 million in cash tax benefits from accelerating net operating losses. Those projected benefits are a major part of the strategic case for the transaction.

The new company name, OlinHuntsman, signals a combination that the companies want to present as a broader platform rather than a simple acquisition.

Timing and approval process

The companies said they expect the merger to close in the first half of 2027. That leaves time for the usual regulatory review and shareholder approval process.

The announcement did not identify any specific obstacles, but the size of the transaction and the overlap in chemicals markets mean regulators are likely to examine the deal closely. Integration planning will also matter because the promised savings depend on combining operations without disrupting customers.

What to watch next

Investors will be watching for merger filings, investor presentations and additional detail on which assets, segments or facilities may be integrated or rationalized.

The biggest open questions are how regulators will view the combination, how much restructuring the companies may need, and how quickly management can capture the expected synergies and tax benefits after closing.

The merger would create a larger North American producer with substantial annual revenue, but the final value for shareholders will depend on Olin's share price between now and closing as well as the companies' ability to execute the integration.