Why Constellium N.V.'s Shares Popped 19% Today
Shares of aluminum maker Constellium N.V. (NYSE: CSTM) jumped as much as 18.7% in trading Friday after rumors began swirling the company could be bought out. At 3:30 p.m. EDT shares were trading up 17.1% on the day.
Bloomberg reported today that Constellium has gotten buyout interest from unnamed companies. According to Credit Suisse analysts, the company could be worth $16 to $18 per share, about double what shares were worth at the close of the market Thursday.
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Source: Fool.com
