Solstice and Element Solutions Terminate Merger Agreement

Solstice Advanced Materials Inc. and Element Solutions Inc. have mutually terminated their merger agreement. The boards of directors for both companies unanimously agreed to end the acquisition, with no termination fees payable by either party.

Following the cancellation, the Solstice Board of Directors authorized the company's first-ever share repurchase program, allowing for the buyback of up to $500 million of its common stock. Rajeev Gautam, Chairman of the Solstice Board, stated the decision to terminate the merger followed conversations with shareholders.

Solstice reaffirmed its financial guidance for the third quarter and full year 2026. President and Chief Executive Officer David Sewell projected full-year net sales between $4.125 billion and $4.185 billion, with adjusted EBITDA between $1.035 billion and $1.055 billion.