Previous Close | 37.46 |
Open | 36.38 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 36.38 - 36.38 |
52 Week Range | 32.69 - 76.88 |
Volume | |
Avg. Volume | 774 |
Market Cap | 3.158B |
Beta (5Y Monthly) | 1.81 |
PE Ratio (TTM) | 12.42 |
EPS (TTM) | 2.93 |
Earnings Date | N/A |
Forward Dividend & Yield | 1.13 (3.11%) |
Ex-Dividend Date | May 26, 2022 |
1y Target Est | N/A |
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There are few companies with more at stake from Russian natural-gas flows into Germany than the chemicals sector.
Lanxess AG shares jumped on Tuesday after it said that it would join with private-equity firm Advent International Corp. to buy Royal DSM NV’s engineering-materials business for around 3.7 billion euros ($3.99 billion), creating a new venture for high-performance plastics, and said that it would start a new share buyback. At 0745 GMT, Lanxess (XE:LXS) shares were up 11.5% to EUR43.51. Advent will hold at least 60% in the joint venture, Lanxess said.
Lanxess AG said Tuesday that it would join with private-equity firm Advent International Corp. to buy Royal DSM NV's engineering-materials business for around 3.7 billion euros ($3.99 billion) and create a new venture for high-performance plastics. The DSM engineering-materials business, which would become part of the joint venture, represents sales of around EUR1.5 billion and operating-profit margin of around 20%, Lanxess said. The German chemical company said it would also transfer its own high-performance materials business into the joint venture, and receive EUR1.1 billion initially and a stake of up to 40% in the new business.