Carlyle, Alsok Successfully Tender for Nippon Dry-Chemical, Acquiring 14.1M Shares
CG is trading near its 52-week low of $39.6 (2.2% above the low) on elevated volume (2.2× avg).
Summary
Carlyle Group and Alsok have successfully completed their tender offer for Nippon Dry-Chemical, with 14,162,145 shares tendered. This marks another successful acquisition for Carlyle, following a period of significant M&A activity including the recent clearance for BASF's coatings business acquisition and the purchase of Chung Ho. For a private equity firm, the successful execution of tender offers and acquisitions is a core driver of its investment performance and asset growth.
At the time of this announcement, CG was trading at $40.49 on NASDAQ in the Finance sector, with a market capitalization of approximately $14.6B. The 52-week trading range was $39.60 to $69.85. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.