Sonoco To Divest Business Unit To TOPPAN For $1.8 Billion, Focus On Core Packaging Businesses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2024
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Source: Benzinga
Sonoco Products Company Sale: Sonoco has agreed to sell its Thermoformed and Flexibles Packaging business to TOPPAN Holdings Inc. for approximately $1.8 billion, aligning with its strategy to simplify its portfolio and focus on core businesses.
Financial Impact and Stock Movement: The sale is expected to close in the first half of 2025, with proceeds aimed at repaying existing debt of $4.8 billion; meanwhile, Sonoco's shares rose by 3.95% in premarket trading following the announcement.
Analyst Views on MDPL
Wall Street analysts forecast MDPL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MDPL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 28.002
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Current: 28.002
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
