BUZZ-Dupont edges lower, announces deal to buy Donatelle Plastics

Reuters06-25

** Shares of chemical maker Dupont de Nemours down marginally at $80.90 after markets open

** Company announced agreement to acquire Donatelle Plastics Incorporated, a medical device contract manufacturer; transaction expected to close in 3Q24

** Bloomberg News reported on Monday that DuPont's water business was drawing takeover interest from potential industry buyers like Xylem and Veralto , citing people with knowledge of the matter

** Company's water business could be valued at $6 bln or more, including debt, according to the report

** In May, DuPont said it would split into three publicly-traded companies, spinning off its electronics and water businesses

** "We think DD management is open to selling should there be a substantial bid... We expect the potential universe of acquirers to be wider, as DD's Water business is relatively unique and a marquee asset with global technology and market share leadership" - KeyBanc Capital Market analysts

** Shares up 17.2% YTD

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment