The purchase was an all-cash transaction for $3.2 billion.
 
“This defining transaction [...] will significantly expand our position in higher-margin, higher-growth end markets, including personal care, pharmaceutical, food and beverage and energy,” said James J. O’Brien, Ashland chairman and CEO. “We are excited about combining ISP’s technologies and capabilities with our own. This acquisition enhances our ability to satisfy the increasing global demand for more technologically advanced consumer and industrial products, and to continue to generate industry-leading innovation and solutions for our customers.”
 
ISP will be integrated into the Ashland Aqualon Functional Ingredients commercial unit, and the combined unit will be called Ashland Specialty Ingredients. Going forward, Ashland Specialty Ingredients is expected to contribute roughly half of Ashland’s EBITDA. Around half of Ashland’s overall revenues will now be derived outside of North America.