American Pacific considers selling itself: sources
NEW YORK (Reuters) - American Pacific Corp (APFC.O), which makes chemicals used in the pharmaceutical and aerospace industries, is considering selling itself, according to three sources familiar with the matter.
One of the sources said that the chemical company was currently in advanced talks with bidders on a sale and could announce a transaction in the near future. It has hired KeyBanc to advise on the sale, two of the sources said.
American Pacific, which also manufactures fire protection and water treatment chemicals, currently has a market capitalization of around $420 million. The company's share price has nearly quintupled over the last year.
Its shares have risen 47 percent since it reported its most recent quarterly earnings in August.
American Pacific and KeyBanc could not be immediately reached for comment.
(Corrects stock ticker for American Pacific in paragraph 1)
(Reporting by Michael Erman; Editing by Steve Orlofsky)
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