Elementis rises after report of KPS Capital exploring bid for co

Innospec

25/01/2024 09:24

** Shares of British chemicals group Elementis  ELM.L  up 9%
at 135p; top gainer on London's mid-cap index  .FTMC 
    ** Stock at its highest level since Feb 2022
    ** KPS Capital Partners recently explored a bid for ELM,
according to a Reuters report 
    ** In December, KPS submitted an offer valuing the checmical
maker at about 160p per share, Elementis board wanted around
180p per share 
    ** KPS has since paused its work, two people familiar with
the matter told Reuters
    ** Previously, ELM rejected takeover bids from U.S.-based
companies Mineral Technologies  MTX.N  and Innospec  IOSP.O  
    ** Through 2023, ELM gained 5.3% 


 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))