Renewable Energy Group surges on report of Chevron buyout
28/02/2022 11:08
** Renewable Energy Group's REGI.O shares up ~33% at
$58.11 premarket on report Chevron CVX.N to buy the biofuel
maker
** CVX nearing $3 bln deal to acquire REGI and could pay
$61.50/sh, Bloomberg News reported late Fri urn:newsml:reuters.com:*:nL4N2V04OR
** Shares of REGI have gained 34% amid 3-session run since
Bloomberg reported co was exploring options, including selling
itself after receiving takeover interest
** REGI has $2.2 bln market cap through close on Fri, per
Refinitiv data. Stock down ~44% over the past year
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))