Seeking Alpha

Zoltek rumored to have receive takeover approach

Shares of Zoltek (ZOLT -1.2%) get volatile on the back of a Financial Times report saying the carbon fiber composite maker is rumored to have received takeover approaches at around $22 per share, which would value the company at about $800M.

Quinpario Acquisition Corp., a blank check acquisition firm, coincidentally priced its IPO at $10 and begins trading on the Nasdaq Exchange today under the symbol "QPACU," is the leading suitor.

In March, Quinpario had an offer rejected to buy Zoltek for a price in the mid teens.

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