Daily Brief Energy/Materials: Greatview Aseptic Packaging, DuPont, Rpm International and more

In today’s briefing:

GA Pack (468 HK): Shandong Xinjufeng’s Offer on the Cusp of Being Declared Unconditional
DuPont’s Separation 2.0: How a Two-Way Split Could Reshape Its Future!
RPM International Inc.: Construction Products Group (CPG) & Performance Innovations As A Major Growth Accelerator! – Major Drivers

GA Pack (468 HK): Shandong Xinjufeng’s Offer on the Cusp of Being Declared Unconditional

Greatview Aseptic Packaging (468 HK)’s offer from Shandong Xinjufeng Technology Packaging (301296 CH) is HK$2.65 with a 50% minimum acceptance condition. The first closing date is 21 January.
The Board has recommended that shareholders not accept. However, based on CCASS data, including acceptances, Shandong Xinjufeng’s shareholding was 46.41% of outstanding shares as of 17 January.
Absent an unlikely competing offer, the offer is on the cusp of being declared unconditional. At the last close and 4 February payment, the gross/annualized spread is 3.1%/128%.

In a major strategic pivot, DuPont de Nemours has announced a streamlined separation strategy that could significantly impact its operational focus and market positioning.
Initially planning a three-way split of its Water, Electronics, and Materials businesses, the company has revised its approach by deciding to retain the Water business while accelerating the spinoff of the Electronics division.
This decision underscores DuPont’s intent to simplify its structure and enhance shareholder value in a more agile manner.

RPM International delivered a robust performance in the fiscal year 2025 second quarter even amidst a macroeconomic landscape characterized by no to low growth.
The company set new records in sales, adjusted EBIT margin, and adjusted EPS.
This achievement is notable considering a significant $4.4 million earnings headwind due to a customer bankruptcy charge in the Consumer Group sector.

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