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0.00092908021059155 0.00278724063177465 0.0018581604211831 0.000260142458965678 -0.000774233508826218 0.000619386807061106 0.00139362031588732 0.000154846701765332
Stock impact report

Univar Investor Engine Capital Calls for Full Sales Process [BNN Bloomberg (Canada)]

Univar Solutions Inc. (UNVR) 
Last univar solutions inc. earnings: 2/25 06:30 am Check Earnings Report
Company Research Source: BNN Bloomberg
after it confirmed preliminary takeover talks last week with German rival Brenntag SE. Engine Capital, which said it owns roughly a 1% stake in Univar, sent a letter to the company's board Wednesday arguing the approach confirms its view that the stock is undervalued. While it commended Univar for its recently expanded share buyback program -- something Engine Capital suggested in another board letter in October -- it called for a full sales process now that the company is effectively in play. “This strategic approach from a direct competitor confirms Engine's view that Univar is undervalued in the public market and, in turn, a highly attractive acquisition target for qualified buyers,” Engine Capital Managing Partner Arnaud Ajdler and Partner Brad Favreau said in the letter, a copy of which was reviewed by Bloomberg. Engine Capital argued Univar could fetch $38 to $44 a share in a competitive auction. Univar fell 1.5% in trading Wednesday to $32.33 at 9:44 a.m. in New York, g Show less Read more
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