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Article: Wellman Taps Lazard For Review.

Article from:
Mergers & Acquisitions Report
Article date:
November 12, 2007
Author:
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After a year-long restructuring, even the news that $10 million market cap Wellman Inc. is considering a sale, couldn't help its beleaguered share price.

Before the market opened on Oct. 29, Fort Mill, S.C.-based Wellman an-nounced it is exploring strategic alternatives with Lazard as its financial advisor. The news lifted its stock 5% to $1.79 per share. The announcement also includes disappointing third quarter results.

Wellman operates in two segments: the manufacturing of PermaClear polyethylene terephthalate (PET) packaging resin and the manufacturing of recycled polyester fibre. Since announcing restructuring initiatives on Sept. 26 2006, Wellman's ...

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