(Alliance News) - Speciality chemical company Elementis PLC has been approached by US peer Innospec Inc about a cash and share takeover offer worth more than GBP1 billion, Sky News reported late Monday.
https://news.sky.com/story/chemicals-group-elementis-draws-1bn-takeover-interest-from-nasdaq-listed-innospec-12280682
Sky said the written offer from Innospec values London-based Elementis shares at more than 200 pence each. The FTSE 250 stock was up 13% at 152.91 pence Tuesday morning, giving a GBP885.3 million market capitalisation.
On Nasdaq in New York, Innospec shares closed down 3.5% at USD99.20 on Monday for a USD2.46 billion market value.
By Tom Waite; thomaslwaite@alliancenews.com
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Elementis (ELM)