Sorbent, mercury-control firm, agrees to $6 Albemarle bid

TEL AVIV (MarketWatch) — Sorbent Technologies Corp., the Twinsburg, Ohio, provider of mercury-control equipment and services, agreed to be bought by Albemarle Corp. for about $6 a share, or $20 million, the companies said late on Thursday. The deal price is 25 cents a share higher than the one the companies’ outlined in early April. Albemarle is the Baton Rouge, La., producer of specialty chemicals. The new deal price is a 17% premium to Sorbent’s last trading price of $5.12 on May 30. The move is subject to conditions including a vote of Sorbent’s holders.
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