Luxfer Holdings jumps after Neo deal terminated

Luxfer Holdings

11/03/2019 17:59

** Shares of Luxfer Holdings PLC  LXFR.N  up ~11 pct after
announcement late Sunday that agreement to acquire Neo
Performance Materials  NEO.TO  terminated
    ** Companies mutually agreed to terminate the previously
announced transaction, where Luxfer would have paid $612 million
cash and stock for Neo  urn:newsml:reuters.com:*:nCNWrdSQGa
    ** LXFR on track for biggest one-day pct gain since Nov 1,
last traded at $19.89. Session peak so far was $19.97, highest
level since Feb 1
    ** NEO down ~ 38 pct, bottoming at record low C$9.86
    ** On Mon NEO reported Q4 EPS of $0.11, adj EPS of $0.19 and
qtrly rev of $109.4 mln  urn:newsml:reuters.com:*:nASB01BKX 
    

 ((alden.bentley@thomsonreuters.com; 646-223-6300))