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Cabot (CBT +2.9%) shares are up sharply after announcing earlier the purchase of the remaining...

Jun. 17, 2013 2:41 PM ETCabot Corporation (CBT) StockCBTBy: Carl Surran, SA News Editor

Cabot (CBT +2.9%) shares are up sharply after announcing earlier the purchase of the remaining 60% stake in its Mexican carbon black manufacturing joint venture from Grupo Kuo for $105M, a move CBT says will bolster its carbon black business in North America and globally. CBT has owned ~40% of the NHUMO joint venture since 1990. CBT expects ~$0.15/share earnings accretion in FY 2014 from the deal.

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