Courtesy of Benzinga.
Earlier today, it was reported that du Pont (NYSE: DD) had approached Polypore International (NYSE: PPO) with a buyout offer of $65 per share.
Polypore is in a quiet period until Feb 23, when earnings are released, but a company spokesperson did say that they were unaware of any offer from du Pont. A du Pont spokesperson said it was company policy not to respond to rumors or speculation.
Polypore’s share price plummeted on January 31, when one of its customers, Korea’s LG Chem, said it would enter the battery separator business, thus becoming a competitor.
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