Ashland to Buy Int’l Specialty Products for $3.2 Billion (ASH)

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Specialty chemicals maker Ashland Inc. ( ASH ) on Tuesday announced it would buy International Specialty Products Inc. ( ISP ) for about $3.2 billion.

The deal is expected to close by the end of 2011. Ashland CEO James O'Brien said the transaction "broadens Ashland's presence within attractive growth areas like skin, hair and oral care, which are large and fast-growing segments of the $5-billion-plus personal care specialty ingredients market."

Ashland shares rose $1.78, or +2.9%, in premarket trading Tuesday.

The Bottom Line
Shares of Ashland ( ASH ) have a 1.14% dividend yield, based on Friday's closing stock price of $61.22. The stock has technical support in the $55-$57 price area. If the shares can firm up, we see overhead resistance around the $63-$65 price levels.

Ashland Inc. ( ASH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ASH , ISP

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