Cytec Industries Inc. (CYT: Quote) 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 has gapped open sharply higher this morning and is now up 6.10 at $63.59. The stock has broken out past resistance and has set a new high for the year.
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by RTT Staff Writer
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