JMAT

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10:17
Feb 23
Charlie Wells Bloomberg Reporter Bloomberg Markets
Honeywell is buying a division of Johnson Matthey, but the deal value was cut from an expected $1.8 billion to $1.3 billion. The stock is down 15% in early trading. A massive repricing of a deal (-$500M) signals deteriorating asset quality or desperation. The market hates uncertainty and "take-unders." SHORT JMAT. Another bidder emerges or the company announces a massive buyback with the remaining proceeds.
JMAT

About JMAT Analyst Coverage

Buzzberg tracks JMAT across 1 sources. 0 bullish vs 1 bearish calls from 1 analysts. Sentiment: mixed to bearish. 1 total trade ideas tracked.