PQ Corp. to be acquired

VALLEY FORGE, Pa., Dec. 17 (UPI) -- PQ Corp. of Valley Forge, Pa., said Friday it will be acquired by JPMorgan Partners, the private equity arm of JPMorgan Chase & Co. of New York.

PQ is a privately-held chemicals and glass materials company.

Financial terms of the deal were not disclosed. It is anticipated that the transaction will close in the first quarter of 2005.

Credit Suisse First Boston acted as financial adviser to PQ Corp. and Harris Nesbitt Corp. provided a fairness opinion to the board of directors. UBS Securities and J.P. Morgan Securities acted as financial advisers to JPMorgan Partners.