UNVR - Univar gains amid report about interest from PE firms Apollo Platinum

Univar Solutions Inc. ( NYSE: UNVR ) rose 3.4% amid a report that private equity firms including Apollo Global ( APO ) and Platinum Equity may be interested in a takeover of the US chemical distributor.

The PE firms are evaluating offers and potential buyers are holding discussions with Univar ( UNVR ) this month, according to traders, who cited a Bloomberg report. The talks are early and Univar hasn't decided if it will sell itself.

The report comes after Brenntag ( OTCPK:BNTGF ) last Monday said it ended talks to acquire rival chemical distributor Univar ( UNVR ).

Univar indicated last Monday that it will c ontinue talks relating to other indications of interest that have been received with respect to a potential transaction. Univar ( UNVR ) is said to have received takeover interest from multiple strategic buyers valuing the company at around $40/share, according to a Street Insider report at the time.

In late November activist Engine Capital, which disclosed it had a ~1% stake in Univar, said the company should start a competitive sales process that invites additional parties to bid for Univar besides Brenntag.

Engine Capital highlighted a letter it sent to Univar's board in October and estimated that Univar ( UNVR ) may be worth $38-$44/share in a takeover.

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