Shares of Solutia Inc. (NYSE: SOA) are soaring in
trading today after the company agreed to be acquired by Eastman Chemical
Company (NYSE: EMN). Under the terms of the agreement, Solutia shareholders will
receive $22 and 0.12 shares of Eastman Chemical common stock for each share of
Solutia common stock they hold.
Solutia shares rose to a new 52-week high of $27.89
in trading today. At last check, the stock was up more than 39% on above
average volume. The rally has pushed Solutia shares above their 50-day and
200-day moving averages.
To get more information on Solutia Inc. please clickhere…
