CHY up to $2.05 from Friday's close $1.8 (up 14%)
after announcing "International Paper to consider strategic alternatives for its stake in Carter Holt Harvey
Carter Holt Harvey Limited"
Carter Holt Harvey Limited (CHH) has been advised by its majority shareholder, International Paper, that it intends to explore strategic alternatives for its 50.5% stake in CHH.
International Paper has indicated that the process is at an early stage and they would hope to complete it by the end of the year.
It is premature to speculate on any outcome, but CHH is committed to ensuring the market is fully informed and maximising value for all shareholders.
In the meantime, it is business as usual at Carter Holt Harvey as far as customers, employees, and suppliers are concerned. The range of projects to improve the performance of the business will continue, including the proposed sale of the non-strategic forests with the full support of International Paper."
Can anyone translates this...;-)
CHY
carter holt harvey limited
