- Kraton Corp. (NYSE:KRA) rose 1.1% after a report that the company's rumored sale process have moved to a second round.
- Three to four parties are expected to be in the second round of bidding, according to a Dealreporter item. Kraton has looked at a potential sale previously, though its "disparate" asset base has led to limited interest for the company.
- The update comes after Reuters last month reported that the polymer make was exploring a sale after receiving interest from peers and private equity firms.
- One logical PE suitor for Kraton could be KKR (NYSE:KKR), which owns LCY Chemical, according to the Dealreporter item. A possible strategic buyer could be Ingevity (NYSE:NGVT).
- Late last month, Kraton EPS misses by $0.18, beats on revenue.