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Mitsubishi Chemical Holdings to buy Mitsubishi Rayon

20 November 2009

Mitsubishi Chemical Holdings has signed a Memorandum of Understanding with Mitsubishi Rayon, which should see it buy the company by the end of March 2010.

It is believed that the value of the offer is around $2.5billion (US).

Under the agreement, Mitsubishi Rayon will become a subsidiary of Mitsubishi Chemical Holdings.