BNTGF - Univar jumps on report Apollo Global agrees to acquire for $8.1B
2023-03-14 07:30:42 ET
- Univar Solutions ( NYSE: UNVR ) soared 14% in premarket trading on a report that private equity firm Apollo Global ( APO ) agreed to purchase the chemicals firm for $8.1 billion including debt.
- The transaction will value Univar ( UNVR ) at $36.15 a share and is expected to be announced on Tuesday, according to a WSJ report, which cited people familiar.
- A deal comes after after Brenntag ( OTCPK:BNTGF ) in January said it ended talks to acquire rival chemical distributor Univar ( UNVR ). Univar said at the time that it would c ontinue talks relating to other indications of interest that have been received with respect to a potential transaction.
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In late November activist Engine Capital said Univar ( UNVR ) should start a competitive sales process that invites additional parties to bid for Univar besides Brenntag.
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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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Univar jumps on report Apollo Global agrees to acquire for $8.1B