IPIC, the Abu Dhabi state enterprise responsible for investments in the hydrocarbons and related sectors, and NOVA Chemicals, one of North America’s leading plastics and chemicals companies have entered into an agreement for an all-cash acquisition of NOVA Chemicals.
The total value of the Transaction, including assumption of NOVA Chemicals’ debt, is approximately $2.3 billion, or $6.00 per share, a whopping 348% premium over the February 20th closing price of NOVA shares on the NYSE. More details on their dedicated website for this major deal.
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