Synthomer (SYNT)

Sector:

Industrial Chemicals

Index:

FTSE Small Cap

180.00p
   
  • Change Today:
      7.20p
  • 52 Week High: 334.00p
  • 52 Week Low: 122.50p
  • Currency: UK Pounds
  • Shares Issued: 163.57m
  • Volume: 560,397
  • Market Cap: £294.42m

Synthomer agrees to acquire Omnova Solutions

By Iain Gilbert

Date: Wednesday 03 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Speciality chemicals company Synthomer has agreed to acquire Omnova Solutions as part of a $473m deal aimed at strengthening its global footprint.
Synthomer offered up $10.15 per Omnova share on Wednesday, a premium of 58% to the group's closing price in the previous session.

The FTSE 250 constituent will finance the deal through a rights issue of up to $257m and was expected to be completed by late 2019 or early 2020.

Following completion, Synthomer expects the deal to boost earnings in the first full financial year and anticipates annual pre-tax cost savings of $29.6m by the end of the third year.

Synthomer said adding Omnova to its portfolio would help it bolster its market share in Europe and Asia and help penetrate into China.

Chief executive Calum MacLean said: "This transaction is an important step in the continued execution of Synthomer's strategy with an acquisition that is both strategically and financially compelling.

"The acquisition provides an attractive financial profile with significant expected synergy benefits. Synthomer has been disciplined waiting for the right opportunity to deliver value through our inorganic growth strategy and this acquisition will provide an additional platform for Synthomer to continue to grow into the medium term."

Elsewhere, Omnova revealed that second-quarter profits had fallen over 33% to $5.6m on the back of volatile markets and challenging economic conditions.

As of 0840 BST, Synthomer shares had fallen 2.32% to 362.60p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Synthomer Market Data

Currency UK Pounds
Share Price 180.00p
Change Today 7.20p
% Change 4.17 %
52 Week High 334.00p
52 Week Low 122.50p
Volume 560,397
Shares Issued 163.57m
Market Cap £294.42m

Synthomer Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Income Not Available
Growth
12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

Synthomer Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 01-Jun-22
Paid n/a 05-Jul-22
Amount 0.000p 21.30p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 69,765 @ 180.00p
16:35 1,935 @ 180.00p
16:35 2,074 @ 180.00p
16:35 441 @ 180.00p
16:35 470 @ 180.00p

Synthomer Key Personnel

CFO Lily Liu

Top of Page