Lydall Jumps On Report It Is Exploring Sale By Investing.com
By Dhirendra Tripathi Investing.com – Lydall (NYSE:LDL) shares rose more than 6% Tuesday on a StreetInsider report that said the company is exploring a potential sale. Lydall is said to have hired an investment bank and has received at least two bids, according to the StreetInsider report. The strategic review may not lead to a sale, it said. The Manchester, Connecticut-headquartered company had authorized a $30 million share repurchase program in April. Lydall makes specialty engineered products for the thermal/acoustical and filtration/separation markets. For the first quarter ended March 31, Lydall reported net sales of...
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