Why Kraton Stock Jumped Almost 10% Today
Shares of chemical and polymer company Kraton (NYSE: KRA) jumped today on news it is being acquired, bringing investors what amounts to almost a triple over the last 12 months. The stock closed Monday's session up 9.4%.
Kraton announced today that it has entered into an agreement to be acquired by Korean chemical company DL Chemical in an all-cash transaction. The purchase price of $46.50 per share represents a nearly 50% premium compared to where the stock traded in early July 2021, when rumors began circulating of the potential for the company to be sold. The stock closed today's session just shy of the buyout price at $45.41 per share.
Source Fool.com
