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Cabot (CBT) says it will sell its Supermetals unit to Global Advanced Metals in a deal valued at...

Cabot (CBT) says it will sell its Supermetals unit to Global Advanced Metals in a deal valued at ~$400M in cash, believing that the specialty metals nature of the unit did not fit with the company's long-term direction. "This transaction allows us to focus our resources on growth initiatives in our other businesses," the company says. CBT +2.3% premarket.
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