Why Owens Corning Stock Rocked the Market This Week
Yahoo Finance ·
Owens Corning ( OC +0.27% ) , a storied company though rarely an investor darling, was a popular stock on the exchange in the holiday-shortened trading week. That was traceable to a media report that stated the company had received a buyout offer. According to data compiled by S&P Global Market Intelligence , Owens Corning's equity zoomed almost 11% higher over the four-day stretch. Owens Corning, a construction supplies company perhaps best known for its pink residential insulation products, was the target of an unsolicited bid from industry peer Carlisle . That's the assertion of The Wall Street Journal , which published an article stating that Carlisle made a series of bids, at least one of which valued a deal at well over $10 billion. Citing unidentified "people familiar with the matter," the financial newspaper added that Owens Corning hasn't yet "engaged substantially" with its apparent suitor. According to the article's sources, Carlisle was considering its next move in the effort. The WSJ said that its offers consisted of a mix of cash and stock.
DYAX Investor Sentiment
Bullish (Long) 50% · Bearish (Short) 50%
284 participants
Related News
- Largest U.S. power grid orders emergency curbs to avoid blackouts
- Stifel Backs Equinix (EQIX) as AI Infrastructure Demand Drives Data Center Growth
- GFL Environmental weighing potential take-private deal - Bloomberg
- What JPMorgan Chase (JPM)'s Bigger Dividend, US$50B Buyback and New Co-Presidents Mean For Shareholders
- Forget College? The AI Boom Is Creating a New Generation of Six-Figure Trade Jobs
- Which Retailer Can Deliver My Order the Fastest?