Here's Why Shares of Chemtura Are Surging in Monday's Session
Shares of Chemtura soared on news that Germany's Lanxess is acquiring the specialty chemical company for approximately $2.5 billion in cash.
Shares of Chemtura (CHMT) soared on news that Germany's Lanxess is acquiring the specialty chemical company for approximately $2.5 billion in cash, or $33.50 a share, that's nearly a 19% premium from where shares closed on Friday. Lanxess CEO Matthias Zachert says the acquisition will strengthen its portfolio, especially in the additives segment. The transaction is expected to close around mid-2017.
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