Quanex increases cash component in Tyman acquisition bid, adding a special interim dividend, valuing Tyman at £788m.
Quanex Building Products has increased its cash component in the acquisition bid for Tyman, a UK-based building products supplier. Concerns over Quanex's share volatility and currency exchange fluctuations led to the addition of a special interim dividend of 15p per share. Tyman's shares rose following the revised deal, which now values Tyman at £788m. Post-acquisition, the combined entity would delist from the London Stock Exchange and be listed on the New York Stock Exchange.
June 28, 2024
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