As indicated in my previous post, in my opinion, it really has no relevance to the value of the stock. If one looks at the stock price response immediately after the announcement, there really isn't one; as a matter of fact, if one wants to correlate the price of CYT stock to anything right after the announcement, try BA stock price.
I agree. If you plot DSM and CYT together there is very little movement in either in the last couple of months.
(Within Cytec, but outside CEM, it was generally denied that BA and CYT track together. I always found this curious, but then, I well remember the days of the methanol craze that pushed CYT stock up despite the fact that they only had a 30% stake of the product, and used a fair amount of that stake internally. Or to say it another way, markets are not always rational. BTW, when did they dismantle that methanol plant, and what was the disposition?)