Solstice Advanced Materials to Acquire Element Solutions, Creating New Industry Leader
ESI has more than doubled off its 52-week low of $22.63.
Summary
Solstice Advanced Materials has announced its acquisition of Element Solutions, aiming to create an industry-leading advanced materials platform. This is a highly material event for Element Solutions, representing a definitive change of control for the company. The deal is positioned to capitalize on attractive secular growth markets. Investors will now focus on the specific financial terms of the acquisition and the anticipated timeline for closing and regulatory approvals.
At the time of this announcement, ESI was trading at $46.48 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $10.6B. The 52-week trading range was $22.63 to $49.25. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.