UPDATE 1-IPIC to buy Nova Chemicals
Published: 23 Feb 2009 18:20:47 PST* IPIC to pay $6/ share
* Values deal at $2.3 bln including debt obligations
* Represents a 348 pct premium over NYSE price of $1.34
TORONTO, Feb 23 - Nova Chemicals Corp said on Monday that it agreed to be bought by International Petroleum Investment Company in a deal which valued it at about $2.3 billion including debt.
The deal sees IPIC, wholly owned by the government of the Emirate of Abu Dhabi, paying $6.00 a share for all of the outstanding shares of Nova Chemicals.
Nova currently has 82.3 million shares outstanding, according to Reuters.
Nova closed on Friday at $1.34 a share in New York. ($1=$1.25 Canadian)
Go to Page
Page 1 of 1
1
Source:
Reuters
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 4ANALYSIS-CFTC cautious on position limits, set
- 5Beyond The Anti-Virus Arms Race
- 6Beware of phishing scams if you are using
- 7Help protect yourself from phishing scams and
- 8Xi'an to launch industrial zone
- 9China Longyuan Power plans HK$17.5-bln HK IPO
- 10INTERVIEW-StanChart eyes $800 mln in renewable
