W.R. Grace gains 11% after bidder 40 North raises offer to $65/share (update)

Jan. 11, 2021 8:03 AM ETW. R. Grace & Co. (GRA)By: Joshua Fineman, SA News Editor
  • 40 North raised its offer for chemical company W.R. Grace & Co. (NYSE:GRA) to $65/share from $60, according to a press release.
  • Updates to say filing confirmed earlier Bloomberg report
  • New proposal doesn't include any financing contingency and is a premium of 62% over W.R. Grace's unaffected share price and a 54% premium over W.R. Grace's unaffected 30-day VWAP.
  • W.R. Grace gained 6.5% in premarket trading
  • Recall Nov. 9, Grace says 40 North buyout offer Grace says 40 North buyout bid inadequate, but analysts foresee more offers
  • Nov. 9, Grace gets $4B takeover bid from shareholder 40 North

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