Solvay Denies Bid for Hexcel (HXL)
- Shares and bonds nervy as rate-hike week looms
- 'Don't Fight the Fed' is still alive and this week will serve as a reminder - MS Wilson
- Dow Jones, Nasdaq, S&P 500 weekly preview: Why analysts expect stocks to rotate lower
- Adani responds to Hindenburg report, but stocks continue descent
- Tesla (TSLA) stock earns upgrade to Buy on 'misguided pricing concerns'
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - November 11, 2020 11:15 AM EST)
Solvay S.A is not in talks to acquire Hexcel Corp. (NYSE: HXL) and did not make a bid, according to a statement from a representative of Solvay. The denial follows an earlier report from StreetInsider, citing a source, that Solvay S.A did in fact make a bid and was in talks on a potential deal.
“While it is our policy not to comment on rumors or speculation, it is important to note that we have not made an offer, nor are we in talks, to acquire Hexcel." Solvay said in a statement to StreetInsider.com.
In January, Hexcel agreed to a merger of equals with Woodward, Inc. (NASDAQ: WWD). However, the deal was terminated in April due to the market disruptions caused by the COVID-19 pandemic.
Hexcel develops, manufactures and markets lightweight, high-performance structural materials including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures for use in commercial aerospace, space and defense and industrial applications.
In response to a question about the potential deal with Solvay, Hexcel said it doesn’t comment on speculation.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Timken (TKR) to acquire Nadella Group from ICG
- GasLog Ltd. Offers to Acquire All of GasLog Partners (GLOP) for $7.70 Per Share
- With Fox merger off the table, News Corp. eyes sale of Realtor.com to CoStar
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!