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Saudi Aramco Approached Valvoline about a Takeover

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Saudi Aramco Approached Valvoline about a Takeover

A strategic move for Aramco...

Uniic Media
May 26, 2022
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Saudi Aramco Approached Valvoline about a Takeover

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According to the Wall Street Journal, Saudi Aramco has reportedly approached Valvoline about a takeover. Even with talks in the early stages, the news has sent Valvoline stock surging upwards of 15%.

Valvoline during a 5-day stretch

It is being said that the deal can make sense for Aramco due to the diversifying of their existing commodity-dominated business lines into value-added products. Despite some negative YTD performances, Wall Street is backing Valvoline. Especially now with news of a buyout possibility.

Aramco negotiates takeover bid with Valvoline - report - TeleTrader.com
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The news has yet to indicate whether or not Aramco will buy both segments of Valvoline which consist of retail services and global product businesses.

Read the full story and stay updated on the topic HERE

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Saudi Aramco Approached Valvoline about a Takeover

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