Ashland Global Holdings Inc. (ASH) revealed that its wholly-owned subsidiary, Ashland LLC, has agreed to sell its performance adhesives business to Arkema for $1.65 billion. The deal forms part of the company's strategic initiative to focus on its core additive and ingredients business. Shares of the U.S.-based multinational chemical company have gained 18.4% over the past year. (See Ashland stock charts on TipRanks) Notably, the deal price implies a valuation premium of 20 times EBITDA of $82 million for the performance adhesives business for the last twelve months ended June 30, 2021.
https://www.tipranks.com/news/ashland-sells-performance-adhesives-business-to-arkema-for-1-65b?utm_source=advfn.com&utm_medium=referral
Ashland Global (NYSE:ASH)
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