Trinseo (Styron) Drops Its IPO
Trinseo has withdrawn its prospectus for a $400 million initial public offering of stock.
Trinseo is the rarely used name for Styron, the former Dow styrenic polymer and polycarbonate unit. Dow sold the unit to the private equity firm Bain Capital for $1.6 billion in 2010.
Bain changed the name to Trinseo for some reason and filed for an IPO two years ago. In its letter to the Securities and Exchange Commission, dated June 15 pulling the registration statement, the company would only say that the withdrawal “would be consistent with the public interest and the protection of investors.” I think that just means that no one gets hurt.