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:
-
Cryptos Muted Ahead Of Inflation Update
-
Dan Tapiero Predicts “Explosive Upmove” For Bitcoin Amid Fed Policy Concerns
-
Bitcoin's Potential Parabolic Rise: BlackRock ETF, Halving, and Coins Leaving Exchanges
-
Bitcoin Mining Powered by Excess Energy: Lugano's Sustainable Initiative
-
Anthony Pompliano Foresees Major Bitcoin Rally in Fox Business Interview