Newalta stock leaps on restructuring news

Investors pushed the share price of Newalta Corp. to a five-year high Tuesday after the diversified environmental services company said it was contemplating selling or spinning off its underperforming industrial division.

In a note to investors overnight, CIBC World Markets analyst David Noseworthy said he thinks the assets would fetch about $450 million if sold, providing resources needed to boost more lucrative parts of Newalta’s business.

Read full article here: Newalta stock leaps on restructuring news.

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