Letter Agreement Extending Termination Date under Stock and Asset Purchase Agreement between Chemtura Corporation and Platform Specialty Products Corporation
Chemtura Corporation and Platform Specialty Products Corporation have agreed to extend the termination date of their Stock and Asset Purchase Agreement from November 1, 2014, to November 8, 2014. This extension allows both parties additional time to complete the closing of the transaction. Both companies waive their right to terminate the agreement under a specific section until the new date. All other terms of the original agreement remain in effect.
EXHIBIT 2.1
EXECUTION VERSION
Chemtura Corporation
199 Benson Road
Middlebury, CT 06749
October 24, 2014
Platform Specialty Products Corporation
5200 Blue Lagoon Drive, Suite 855
Miami, FL 33126
Attn: Daniel Leever
Dear Dan:
Reference is made to that certain Stock and Asset Purchase Agreement, dated as of April 16, 2014 (as amended from time to time, the “Purchase Agreement”), between Chemtura Corporation, a Delaware corporation (“Chemtura”), and Platform Specialty Products Corporation, a Delaware corporation (“Purchaser”) (on its own behalf and as agent on behalf of certain foreign and domestic subsidiaries to be formed prior to the Closing (as defined in the Purchase Agreement)). Capitalized terms used herein without definition have the meaning ascribed to them in the Purchase Agreement.
The Termination Date under the Purchase Agreement is November 1, 2014. Chemtura and Purchaser intend to consummate the Closing on or about November 3, 2014.
In furtherance of the parties’ mutual intention to consummate the Closing after the Termination Date, pursuant to Section 9.5 of the Purchase Agreement, each of Chemtura and Purchaser hereby irrevocably waives, until November 8, 2014, its right to terminate the Purchase Agreement under Section 7.1(b) of the Purchase Agreement.
The provisions of Article IX of the Purchase Agreement shall apply to this letter agreement mutatis mutandis.
[Signature Page Follows]
| Very truly yours, | ||
| CHEMTURA CORPORATION | ||
| By: | /s/ Alan Schutzman | |
| Name: | Alan Schutzman | |
| Title: | Assistant Secretary | |
| Accepted and Agreed to: | ||
| PLATFORM SPECIALTY PRODUCTS CORPORATION | ||
| By: | /s/ John Cordani | |
| Name: | John Cordani | |
| Title: | Secretary | |
[Signature page to the Letter Agreement]
