Diversey Bond Surges to Highest Since 2022 on Acquisition News

Diversey Holdings Ltd’s bond jumped to the highest price since January 2022 on Wednesday after Solenis agreed to buy the company in a take-private deal.

The holding company’s 4.625% bond due in December 2029 rose over 14 cents to 96.25 cents on the dollar, leading gains in high-yield secondary trading, according to Trace data as of 4:40 p.m New York time. Trading in Diversey’s bonds was more than 20 times the average for this time of day, Trace data show.

Diversey declined to comment.

Solenis agreed to buy Diversey for $8.40 per share in a cash deal valued ...