Celanese Corp. (CE) Has Broken Out To A New High On Joint Venture Deal


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(RTTNews.com) - Celanese Corp. ( CE ) and funds managed by Blackstone (BX) announced Monday morning that they have agreed to form a joint venture that will create a global acetate tow supplier. Celanese and Blackstone will own 70 percent and 30 percent of the JV, respectively.

Celanese has gapped open sharply higher this morning and is now up 4.26 at $94.78. The stock has broken out past resistance and has set a new high for the year.

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This article appears in: Politics , World Markets , Stocks
Referenced Symbols: CE


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