Solstice Advanced Materials Inc. (SOLS) announced the mutual termination of its merger agreement with Element Solutions Inc., effective August 27, 2026. In conjunction with this termination, the company's Board of Directors has authorized a new share repurchase program for up to $500 million of its common stock. The company also reaffirmed its financial guidance for Q3 and full-year 2026.
Key Details
- Merger Termination: The previously announced Agreement and Plan of Merger, dated July 6, 2026, was terminated by mutual consent. No termination fees are payable by either party.
- Share Repurchase Program: The Board of Directors approved a program to repurchase up to $500 million of the company's common stock. Repurchases will be funded by cash on hand and cash generated from operations.
- Guidance Affirmed: Solstice reaffirmed its full-year 2026 guidance, including projected Net Sales of $4,125 - $4,185 million and Adjusted EBITDA of $1,035 - $1,055 million.