Johnson Matthey Rises on Report of Battery Talks With Tata
- A deal for the unit could fetch $500 million to $700 million
- Johnson Matthey has said it would end battery materials push
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Johnson Matthey Plc’s shares climbed the most since April after a report that Tata Chemicals Ltd. was in discussions to buy the chemical firm’s battery materials business.
A deal for the unit could fetch $500 million to $700 million, Mint reported, citing two people with direct knowledge of the plan. The talks began after the London-based company decided to exit the business and Tata Chemicals is one of the frontrunners to acquire the assets, the sources told the newspaper.