The acquisition, plans for which were unveiled in September , is designed to add chiral chemistry and peptide intermediate synthesis capability to Grace’s offering and further expand its polyolefin catalysis business.
Approval by the District of Delaware Court will be a relief for Synthetech, particularly CEO Gregory Hahn who said the deal “[would create] additional value for all Synthetech stakeholders, including employees, customers, and particularly shareholders.
The merger, which is still subject to clearance by those shareholders, follows a long-running decline in Synthetech’s revenues after lower demand from key international customers.