Cytec Industries Inc. (CYT) announced Thursday morning that it intends to acquire all of the outstanding shares of Umeco plc in an all-cash transaction valued at approximately $439 million.
Cytec Industries gapped open dramatically higher Thursday and posted gains in early trade, before settling into a narrow range. The stock closed up by 6.57 at $64.06, with volume at over a 2-month high. Cytec surged past resistance and finished at a new high for the year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.