Why Owens Corning Stock Rocked the Market This Week
A suitor is apparently willing to pay more than $10 billion to acquire the storied building-materials company.
Overview
Owens Corning (NYSE: OC), a storied company though rarely an investor darling, was a popular stock on the exchange in the holiday-shortened trading week. That was traceable to a media report that stated the company had received a buyout offer. According to data compiled by S&P Global Market Intelligence, Owens Corning's equity zoomed almost 11% higher over the four-day stretch.
Owens Corning, a construction supplies company perhaps best known for its pink residential insulation products, was the target of an unsolicited bid from industry peer Carlisle.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.