Element Solutions trades in a strange spot in the specialty chemicals space. The second quarter of 2026 showed net sales jumping 56. % to $977.9. Million, driven by the Micromax and EFC acquisitions and a large pass-through from rising metals prices.
The defining event of the past year is not in the operating results at all. On July 6, 2026. , Solstice Advanced Materials agreed to acquire Element in a cash-and-stock deal worth roughly $14.5. Billion. Two months later the deal collapsed, and both boards agreed to a mutual termination with no fee paid by either side.
The market has already digested most of the outcome. Element shares closed near $36, well below the $50. Implied by the deal and below the $47.75. They reached in June ahead of the announcement. The stock is now a pure standalone story, and the balance sheet carries the debt and the 2028 bond maturity that the failed transaction left behind.