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February 3, 2014
14:13 EDTPOL, KRAKraton Performance Polymers advances after S&P revises outlook
Shares of Kraton Performance Polymers (KRA) are one of today's few winners in a down market after S&P revised its outlook on the company to Positive from Stable earlier today. The company’s polymers are found in products ranging from diapers to adhesives to roofing products. WHAT'S NEW: Kraton's plan to combine with LCY Chemical's sytrenic block copolymers assets could improve Kraton's financial risk, S&P stated in a press release. The firm affirmed its B+ corporate credit rating on the company. ANOTHER TO WATCH: Another polymer maker is PolyOne (POL). PRICE ACTION: In mid-afternoon trading, Kraton climbed 49c, or about 2%, to $25.50.
News For KRA;POL From The Last 14 Days
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September 28, 2015
06:08 EDTKRAKraton Performance to host conference call
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06:04 EDTKRAKraton Performance agrees to acquire Arizona Chemical Holdings for $1.37B
Kraton Performance announced that it has entered into a definitive agreement to acquire all of the capital stock of privately held Arizona Chemical Holdings Corporation for a cash purchase price of $1.37B. Arizona Chemical is a global producer of high-value performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials. Arizona Chemical's end use market exposure is highly complementary with that of Kraton, particularly in markets such as adhesives, roads and construction, coatings and oilfield chemicals. The $1.37B base purchase price is subject to adjustment for cash and indebtedness at closing, as well as an adjustment for working capital and other items. Kraton will finance the purchase price through debt facilities that have been committed by Credit Suisse Securities, Nomura Securities International, Inc., and Deutsche Bank Securities, Inc. The seller of Arizona Chemical is AZC Holding Company, LLC, which is principally owned by investment funds managed by American Securities LLC. The acquisition is subject to regulatory and other customary approvals and conditions and is currently expected to close in late 2015 or early 2016. the acquisition is expected to result in $65M of pre-tax run rate synergies and is expected to be accretive to EPS by approximately $1.40 per share in the first full year of combined operation.
September 21, 2015
14:18 EDTPOLPetrochemical stocks advance after IRS official's comments, WSJ says
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