Shares of air and water purification systems maker Calgon Carbon Corp.
soared 62% in premarket trade Thursday, after the company said it has reached an agreement to be acquired by Japan’s Kuraray Co. Ltd.
in a deal with an equity value of about $1.1 billion. Kuraray will pay $21.50 a share in cash for each Calgon Carbon share. The deal is expected to close by the end of December and will be completed as a merger of a newly-created subsidiary of Kuraray with and into Calgon Carbon. Calgon Carbon Chief Executive Randy Dearth said the deal will make the company part of a bigger, stronger global company with the resources to support the business into the future. Calgon Carbon shares had fallen 22% in 2017 through Wednesday, while the S&P 500
has gained 12%.
View more information: https://www.marketwatch.com/story/calgon-carbon-shares-soar-62-as-company-to-be-acquired-by-kuraray-in-11-billion-deal-2017-09-21