Olin Corporation and Huntsman Corporation announced a definitive agreement on June 16, 2026, to combine in a merger of equals, creating a new company named OlinHuntsman. The combined entity will have approximately $12.5 billion in annual revenue and a market capitalization exceeding $12 billion.
Under the terms of the agreement, Olin shareholders will own approximately 54.5% of the combined company on a fully diluted basis, while Huntsman shareholders will own approximately 45.5%. The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals.
The strategic rationale centers on vertical integration of the chlor-alkali value chain. Olin is the world's largest chlor-alkali producer, with approximately 76% of its electricity sourced from natural gas and hydroelectric power, providing significant cost advantages. However, Olin lacks high-value downstream outlets for its chlorine and epoxide capacity. Huntsman's MDI, ethyleneamines, and maleic anhydride businesses are major consumers of chlorine. Following the merger, Olin's chlorine can be directly supplied to Huntsman for phosgene production (an MDI precursor), and intermediates such as epichlorohydrin can be supplied internally, creating an uninterrupted vertically integrated chain.
The companies have identified more than $400 million in cost synergies and integration benefits, the majority of which are expected to be realized within 24 months.
