Biocides company Arch Chemicals announced that Lonza's subsidiary, Lonza LG Acquisition Corp., has commenced the previously announced offer to acquire all of the outstanding shares of common stock of Arch Chemicals at a price of $47.20 per share, net to the seller in cash, without interest and less any required withholding of taxes.

The tender offer is scheduled to expire on Aug. 11. The closing of the tender offer is subject to customary terms and conditions. On July 11, Lonza announced its intention to acquire Arch through a tender offer for $47.20 per share in cash. As per the deal, the germs control product maker's enterprise value would be $1.4 billion or about 1.25 billion Swiss francs.