Reports circulated in October that Chemtura Corp. hired Merrill Lynch & Co. in a failed effort to sell the company. Now the producer of specialty chemicals, crop protection, and pool, spa and home-care products formed a special committee and said it hired Merrill to sell, merge or create a business combination involving the entire firm. They may also just look to divest certain assets or even make some strategic acquisitions. This Dealscape post cited Dow Chemical Co. as a likely buyer for the firm.

Earlier this year, Middlebury, Conn.-based Chemtura failed to get the garden, lawn-care and pest-control assets of Spectrum Brands for about $820 million. In the past two months, the firm sold its optical monomers business to Acomon AG and a fungicide product line from its crop protection division to American Vanguard Corp.

Chemtura shares closed at $7.12 on the NYSE Tuesday, off a year high of $12.33. Shares haven't traded above $15 since August 2005. Their market cap stands at $1.72 billion. — Baz Hiralal

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