Huntsman Corporation (HUN) shares fell 17.1% following Olin Corporation’s (OLN) agreement to acquire it in an all-stock transaction valued at $2.43 billion. The discounted valuation of this deal negatively impacted Huntsman’s stock price.
In contrast, Yum! Brands, Inc. (YUM) saw its shares increase by 1.9% after announcing plans to sell its Pizza Hut chain for $2.7 billion. Meanwhile, Space Exploration Technologies Corp. (SPCX) shares rose 4.8%, briefly surpassing Amazon.com, Inc. (AMZN) in market capitalization during its post-IPO rally. Conversely, NVIDIA Corporation (NVDA) shares declined by 2.4% amid a broader downturn in the technology sector.
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