Umicore, which specializes in advanced materials used in the manufacture of electric batteries, suddenly jumped on the stock market this afternoon, on takeover rumors reported by Bloomberg, to record its strongest rise in more than twenty years.
Umicore gained up to 17% this afternoon on the Brussels Stock Exchange. This Belgian player in the electric battery industry, specializing in advanced materials used as catalysts (nickel, cobalt), recorded the strongest rise in the Stoxx 600 index, on which the largest European companies are listed.
According to Bloomberg, the South Korean LG Chem is reviewing potential acquisitions and the name of Umicore is among the potential targets, reports the financial news agency, citing sources familiar with the matter. LG Chem would only be at the beginning of its research.
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