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 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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.