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# Shareholders Killed This Deal, So Now There's a Buyback
- URL: https://www.pennystocks.news/sols-shareholders-killed-this-deal-so-now-there-s-a-buyback/
- Published: 2026-08-29T21:20:34.000Z
- Updated: 2026-08-29T21:20:34.000Z
- Description: Solstice walked away from its planned acquisition of Element Solutions after shareholders pushed back. The same day it announced the termination, the board approved a $500 million buyback — its first.
- Author: PennyStocksNews Team
- Tags: nasdaq, ticker-sols

Solstice Advanced Materials struck a deal to buy Element Solutions in early July. About seven weeks later, both sides agreed to walk away.

Both boards terminated the merger on August 27\. Under the deal's terms, Solstice's existing shareholders would have owned **roughly 56% of the combined company**, with Element Solutions shareholders holding the other 44%, according to Solstice's quarterly filing with the SEC — meaning they would have shared nearly half of what is currently their company with incoming shareholders. Both companies say shareholder feedback drove the decision.

Solstice Advanced Materials Inc. NASDAQ: SOLS 

The same day, Solstice's board approved **a $500 million share repurchase program** — the company's first. Instead of issuing shares to buy another business, Solstice will now buy back its own. No termination fee is owed by either party.

Shares closed **12.76% higher at $63.53** on August 29, on dollar volume of about $1 billion.

Alongside the termination, Solstice reaffirmed its guidance for the year: **full-year 2026 net sales of $4,125 million to $4,185 million**, and adjusted earnings of **$2.75 to $2.95 per share** — a non-GAAP figure that strips out certain one-time costs. For the third quarter it expects **net sales of $990 million to $1,030 million**. CEO David Sewell said cash flows and the balance sheet were strong enough to support both organic growth investments and returning capital to shareholders.

Element Solutions chairman Ian G.H. Ashken said in an August 27 filing with the SEC that the deal's strategic and financial rationale "was compelling." Both companies walked away from it regardless.