The offer represents a 17% premium to Novelis' Friday closing price and a 49% premium to Novelis' share price on Jan. 25, the day before Novelis said it was negotiating with potential buyers.On Monday, Novelis's U.S.-listed shares rose as high as $44.01, a 52-week high, and closed up 13.3% at $43.67. by economies of scale; and significant capital investments are required to achieve
SAN FRANCISCO (MarketWatch) -- Shares of Novelis Inc. vaulted 14% Monday after the U.S.-Canadian producer of rolled aluminum agreed to a $6 billion buyout from India's Hindalco Industries Ltd. That Mumbai aluminum and copper producer, which is part of Indian industrial conglomerate Aditya Birla Group, will pay $44.93 a share cash for each Novelis Sales rose to $7.4 billion from $6.3 billion.Novelis's operations had been hurt by higher metal prices that it was unable to pass on to certain customers due to price ceilings on part of its can-sheet sales in North America.
Late in December, the company named Blechschmidt acting CEO, succeeding Chairman William Monahan, who had been interim CEO since August. The Aluminium segment manufactures and sells hydrate and alumina, and aluminium products. Hindalco has a 60% share of the Indian market for rolled products.The combination of Novelis's rolling assets with Hindalco's primary aluminum operations and fabricating assets "in the rapidly growing Asian market is an exciting prospect," Novelis's acting chief executive, Ed Blechschmidt, said.Both boards have approved the transaction, and the companies said that, pending regulatory approvals and other customary clearances, they expect to close the deal in the second quarter. Novelis is the Atlanta headquartered arm of Aditya Birla group flagship Hindalco.
Hindalco Industries Ltd. engages in the production and marketing of aluminium and copper products. He is a former chairman and CEO of Gentiva Health Services Inc. standards. NOVELIS : Fabricant français de menuiseries pvc et aluminium, fenêtres, portes d'entrées, ouvertures coulissantes, volet roulant, formes spéciales pour le neuf aux demandes des gros chantiers Villefranche sur saone, Rhone, France Adjusted EBITDA decreased 32 percent to $253 million in the first quarter of fiscal 2021 compared with … INR
At CMP, ex-aluminium business represents > 90% of market cap per our SOTP. Our primary competitors are
regions and end-use markets in which we operate. and maintain technological capabilities and demanding customer qualification Novelis Italia S.P.A. manufactures casting aluminum coils, cold rolled coils, and strips. Novelis, which is based in Toronto and has executive offices in Atlanta, was spun off in January 2005 from Montreal's Alcan Inc. Market Cap (USD) 4.83 B Book Value per Share 277.41 Free Float in % 65.35 Cash Flow per Share 50.47 Hindalco Industries
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Company profile page for Novelis Inc/Old including stock price, company news, press releases, executives, board members, and contact information MUMBAI: Novelis Inc, a leading producer of flat rolled aluminum products used in automobiles and beverage cans, is refinancing $1.8 billion of its term loans for a period of five and a half years to lower its borrowing costs, in one of the largest such exercise in recent times, said multiple sources aware. For the first nine months of 2006, Novelis swung to a loss of $170 million, or $2.30 a share, from net income of $32 million, or 43 cents a share, a year earlier. Hindalco, with 2006 revenue of about $2.6 billion, said the acquisition isn't conditioned on its arranging financing. In October, Novelis named Thomas Walpole president of its Asian operations, effective Feb. 1. He had been vice president and general manager of Novelis's can-products unit.
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