Mativ Rallies 13% On Proposed Sale Of Engineered Papers Business

On:

Shares of specialty materials company, Mativ Holdings, Inc. (MATV) are surging more than 13% Tuesday morning after announcing the proposed sale of its Engineered Papers business for $620 million to Evergreen Hill Enterprise, Pte. Ltd.

Net proceeds of about $575 million in the proposed transaction, which is binding on Evergreen, would be primarily used for paying down debts.

The transaction is expected to close in the fourth quarter of 2023.

MATV is at $17.65 currently. It has traded in the range of $13.92 – $28.99 in the last 52 weeks.

Source: Read Full Article

Lates News:
  1. FREYR Battery Down 10% After Pricing Public Offering Of 20 Mln Shares
  2. Bitcoin Lingers Above $17,000 Amid Macroeconomic, Recession Concerns For 2023
  3. Cryptos Muted As SEC's Ripple Labs' Appeal, U.S. CPI Weigh
  4. ‘Diamond Hands’ Tesla Still HODLing Over 10,000 BTC, Q4 2022 Report Reveals
  5. Sphere Entertainment Shares Rise In Morning Trade