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:
-
Bloomberg Expert Analyst Explains Why A Fall To $10,000 Isn’t Bad For Bitcoin
-
ARK Invest’s Spot Bitcoin ETF to get ruling in 6 days; here’s what market players are saying
-
Anthony Pompliano Talks Bitcoin's Latest Surge and ETF Status
-
Johnson & Johnson Rises On Upbeat Quarterly Results, Outlook
-
Weibo Shares Drop After Pricing ADS Offering