UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
Report (Date of earliest event reported): June
26,
2008
(June
26, 2008)
|
Chemtura
Corporation
|
|
|
(Exact
name of registrant as specified in its charter)
|
|
Delaware
|
|
1-15339
|
|
52-2183153
|
(State
or other jurisdiction
|
|
(Commission
file number)
|
|
(IRS
employer identification
|
of
incorporation)
|
|
|
|
number)
|
|
|
|
|
|
199
Benson Road, Middlebury, Connecticut
|
|
06749
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
|
(203)
573-2000
|
|
|
(Registrant's
telephone number, including area code)
|
|
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
Item
8.01
Other Events.
Chemtura
Corporation announced on December 18, 2007, that a special committee of its
board of directors and the company’s financial advisor, Merrill Lynch & Co.,
would explore a variety of strategic alternatives. Chemtura’s board of directors
announced on June 26, 2008, that, after thoroughly exploring a potential
sale,
merger or other business combination involving the entire company, it has
concluded that shareholders’ interests will be best served by continuing to
operate as a stand-alone company and focusing on its own growth and efficiency
initiatives. The board has terminated discussions on a potential sale, merger
or
other business combination after determining that such discussions are unlikely
at this time to result in an offer at a sufficiently attractive
price.
The
board
of directors has instructed management, the special committee, and Merrill
Lynch
to continue active consideration of the company’s other strategic options,
including (among other options) select business divestitures, value-creating
acquisitions, joint ventures and changes in the company’s capital structure,
which could include a stock repurchase program.
While
the
company’s evaluation of strategic alternatives continues, there can be no
assurance that this process will result in any specific transaction. The
company
does not expect to disclose any further developments regarding the exploration
of strategic alternatives unless and until its board of directors has approved
a
transaction or a strategic alternative.
Item
9.01
Financial Statements and Exhibits
* * *
(d)
|
Exhibits
|
|
|
|
|
|
|
|
Exhibit
Number
|
|
Exhibit
Description
|
|
|
|
|
|
99.1
|
|
Chemtura
Updates Strategic Alternatives
Review
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
|
|
Chemtura
Corporation
|
|
(Registrant)
|
|
|
|
|
By:
|
/s/ Lynn
A. Schefsky
|
|
Name:
|
Lynn
A. Schefsky
|
|
Title:
|
Senior
Vice President, General Counsel and Secretary
|
|
|
|
Date:
June 26, 2008
|
|
|
(d)
|
Exhibits
|
|
|
|
|
|
|
|
Exhibit
Number
|
|
Exhibit
Description
|
|
|
|
|
|
99.1
|
|
Chemtura
Updates Strategic Alternatives
Review
|