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:
-
Between Buoyant Earnings And Worrying Geopolitics – World Markets At This Hour
-
Cryptos Muted As Markets Guess The Fed's Monetary Policy Outlook
-
Cryptos Rise As Powell Sounds Less Hawkish Than Feared
-
$BTC: A Weaker U.S. Dollar Allows Bitcoin and Rest of the Crypto Market to Move Higher
-
Ali Martinez: Bitcoin in Danger of Falling to $20,590