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. Bitcoin Slumps Below $23,000 As Investors Assess Impact of Federal Reserve Interest Rate Moves
  2. Barnes & Noble Education Rallies On Increased Sales In Q1
  3. Arco Platform Rises 14% On Sweetened Buyout Proposal
  4. Cryptos Muted Ahead Of Central Bank Decisions
  5. JetBlue Sees Wider Than Expected Loss In Q4, Cuts FY23 Outlook; Stock Dips In Premarket – Update