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Eastman Chemical to Buy Taminco for $1.8 Billion

By Morning Outlook FOXBusiness

M&A activity slowed down slightly over the summer, but the first eight months of 2014 still produced more completed deals compared to the same period a year ago.

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Nearly 1500 deals were completed through August of this year, with a total value of about $195 billion. That easily tops more than 1300 transactions announced in 2013.

Speaking of deals, Taminco is being acquired by Eastman Chemical (EMN) for $1.8 billion. The transaction works out to $26 a share in cash, plus assumed debt of $1 billion. Taminco is a specialty chemical company.

And 1-800-FLOWERS.COM is reporting fourth-quarter results. The florist and gift retailer posted an adjusted profit of five cents a share, right in line with the estimate. Revenue rose 8% from a year ago to $187.4 million, but that fell short of expectations.

Looking ahead, 1-800-FLOWERS.COM expects annual consolidated revenue growth to be in the mid-single-digit range.

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