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- GCP Applied Technologies (NYSE:GCP) soared 14% on a report that French building materials company Cie. de Saint-Gobain (OTCPK:CODGF) is among buyers considering a possible purchase of GCP.
- Saint-Gobain has been analyzing a potential bid for GCP, according to a Bloomberg report. The maker of specialty construction chemicals could also see interest from peers including RPM International (NYSE:RPM).
- A potential sale of GCP Applied (GCP) comes after activist Starboard Value targeted the company last year, winning eight board seats after a proxy battle. Starboard is listed as the GCP's third biggest holder with a 8.9% stake as of the end of Q3.
- GCP Applied (GCP) has a market cap of about $1.8B.
- In May, Saint-Gobain agreed to acquire Chryso, a global player in the construction chemicals market.
- Earlier this month, GCP Applied to raise concrete admixture prices in North America.