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Stock Market & Financial Investment News

News Breaks
March 13, 2014
14:02 EDTEMNEastman Chemical to acquire Commonwealth Laminating & Coating
Eastman Chemical announced that it has entered into a definitive agreement to acquire Commonwealth Laminating & Coating. The company, which had 2013 sales revenue of approximately $100M, is an independent manufacturer and global marketer and distributor of window films and specialty films for automotive, architectural, and protective applications. The acquisition will include Commonwealth's manufacturing facility and master distribution center in Martinsville, VA, and nine sales distribution centers that serve the global market. With the addition of Commonwealth's expertise, paint protection technology, brand and channels, and experienced workforce, Eastman expects continued growth in its performance films products. Subject to receipt of required regulatory approvals and satisfaction of other customary closing conditions, the acquisition is expected to be completed in the second half of 2014. Terms of the transaction were not disclosed. The acquired business is expected to be accretive to the first full- year of earnings post-acquisition, excluding acquisition-related costs and charges. Following the completion of the transaction, the acquired business will become part of Eastman's Advanced Materials segment.
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December 11, 2014
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December 8, 2014
07:43 EDTEMNEastman Chemical remains a top pick, says UBS
UBS said Eastman Chemical remains a top pick as it continues to transform its portfolio mix. The firm expects acquired businesses to be accretive and does not believe its multiple reflects the company's transformation via M&A. UBS reiterates its Buy rating and raised its price target to $92 from $90 on Eastman Chemical shares.

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