Univar falls as hedge fund urges sale, other options

Univar Solutions

30/11/2022 16:56

** Univar Solutions Inc's shares  UNVR.N  down 1.5% at
$32.33
    ** U.S. hedge fund Engine Capital urges UNVR to consider a
sale or other strategic options
    ** Last week, Germany's Brenntag SE  BNRGn.DE  said it was
in preliminary talks to buy the chemicals distributor
    ** Engine Capital, which owns about 1% of UNVR, says in an
open letter that the bid by Brenntag confirms its view that the
company is "undervalued" and a "highly attractive acquisition
target"
    ** Engine Capital adds that a sale price between $38 and $44
per share is achievable if UNVR board runs a competitive sale
process
    ** Accounting for session losses, company's shares down
10.2% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))