OCI Partners -5.5% as OCI N.V. ends merger negotiations

|About: OCI N.V. (OCINF)|By:, SA News Editor

OCI Partners (OCIP -5.5%) plunges after announcing that OCI N.V. (OTC:OCINF) terminated negotiations to acquire the company.

In December, OCI had proposed an exchange ratio of 0.52 OCI N.V. shares for each OCIP unit, and OCI N.V. would have offered 9.1M newly issued shares at ~$7.80/unit, as part of a merger deal.

Ctigroup downgraded OCIP to Sell from Neutral on the news.