Arch Chemicals up 11% on Acquisition by Lonza Group

Arch Chemicals ARJ is up 11% on the news that Lonza Group has agreed to acquire the company for $47.20 per share totaling $1.2B. The purchase price represent a 36.7% premium to Arch Chemicals' average closing price over the last 30 days. The shares are currently trading at $46.87, a gain of 11.13%.