Constellium Is Said to Weigh Options After Takeover Interest

  • Dutch firm valued at about $913 million on New York exchange
  • Deliberations may not lead to sale of aluminum products maker

Constellium NV, the Dutch maker of aluminum products, is weighing options after drawing takeover interest, according to people familiar with the matter.

Shares in the company, which listed on the New York Stock Exchange in 2013, rose as much as 11 percent Thursday to $9.20. It closed up 4.2 percent to $8.65. The stock had slumped more than 70 percent through Wednesday since its peak in 2014.

There’s no guarantee the deliberations will lead to a sale, the people said, asking not to be identified because the matter is private. A representative of Constellium declined to comment.

Constellium could be worth $16 to $18 a share in any takeover, according Credit Suisse Group AG analysts, who wrote they’re not surprised the Dutch firm could be in play because of the price that Norsk Hydro ASA paid to acquire Orkla ASA’s 50 percent interest in Sapa. There would be many interested parties including upstream producers, the analysts said.

Led by Chief Executive Officer Jean-Marc Germain, Constellium sells aircraft parts, industrial coil, window frames and car bodies to aerospace, automotive and packaging customers around the world. The company agreed to acquire aluminum sheet producer Wise Metals Intermediate Holdings LLC for about $1.4 billion in 2014.

Last month, Constellium reported adjusted earnings before interest, taxes, depreciation and amortization of $220 million for the first half of 2017, up from $199 million in the same period last year.

— With assistance by Siddharth Vikram Philip, George Smith Alexander, Ruth David, Morwenna Coniam, and Matthew Campbell

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