Shares of specialty and commodity chemicals provider Univar Solutions (NYSE:UNVR) are trending upwards today after funds managed by Apollo Global (NYSE:APO) agreed to acquire the company at an enterprise value of $8.1 billion.
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The all-cash deal also includes a minority investment by a subsidiary of the Abu Dhabi Investment Authority (ADIA). Impressively, UNVR investors will receive a cash consideration of $36.15 per share as compared to the stock’s last closing price of $31.17.
The acquisition has been approved by UNVR’s board and is anticipated to close in the second half of this year. Upon closing, UNVR shares will cease to trade on NYSE and the company will become privately held.
Shares of the company had gained nearly 22% over the past six months and are up about 12% so far today.
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