Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, February 19, 2013

Rockwood's CeramTec to attract buyout firms' interest-sources, (NYSE: ROC)

U.S. chemicals maker Rockwood Holdings Inc is looking to sell its industrial ceramics unit and is likely to draw interest from large takeover firms, people close to potential suitors said. Rockwood is focusing on lithium for batteries and has hired Lazard to run the ceramics auction, likely to raise some $1.7 billion, the sources said.The U.S. group will soon provide data on the unit, known as CeramTec, to prospective buyers, mainly large financial investors such as CVC, Bain, Advent, Permira and Blackstone, the sources said on Tuesday.Information memorandums are expected to be circulated in two to three weeks.Lazard and the private equity investors declined to comment. A Rockwood spokeswoman also declined to comment.

Rockwood Holdings, Inc. (Rockwood) is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes. Shares of ROC remained unchanged at $57.50. In the past year, the shares have traded as low as $40.52 and as high as $59.65. On average, 1059220 shares of ROC exchange hands on a given day and today's volume is recorded at 0.