WEBVTT - SK Hynix; Broadcom Expands Apple Pact; Solstice-Element Merger Talks

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Tom Keen with Paul Sweeney and Bloomberg's Jent.

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<v Speaker 1>All right, let's start with sk Heidex this morning, kicking

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<v Speaker 1>off the formal marketing process for its US listing, the

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<v Speaker 1>South Korean shipmaker. I was trying to capitalize an investor

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<v Speaker 1>demand for the memory chip sector. I'm going to say

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<v Speaker 1>the high flying memory chip sector. A company is seeking

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<v Speaker 1>to sell American depositary receipts. This would represent just about

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<v Speaker 1>eighteen million Commons shares. It'll be valued at about twenty

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<v Speaker 1>eight billion dollars. The offering of the ADRs comes after

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<v Speaker 1>the firm's sole traded stock that Sucker has rallied two

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<v Speaker 1>hundred and sixty percent. Sent this here, the company's market

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<v Speaker 1>cap is now above trillion dollars. So a US listening

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<v Speaker 1>for sk heinez.

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<v Speaker 2>Opens another big deal for the Wall Street investment. Yeah,

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<v Speaker 2>twenty two thousand employees.

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<v Speaker 1>Well yeah, again, a trillion dollar market cap. So this

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<v Speaker 1>was going to open up a pretty important fundraising channel

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<v Speaker 1>for the high bay with memory. I've never seen this.

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<v Speaker 2>Maybe you said this, John twelve months total return seven,

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<v Speaker 2>I've never seen that number. Bank of America, City Group,

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<v Speaker 2>Goldman Sachs and JP Moore been leading the deal.

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<v Speaker 1>The ad R sale be among the top three first

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<v Speaker 1>time share sales ever at the person size. Right now,

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<v Speaker 1>a couple of phone calls. Chip supplier Broadcom ticker symbol

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<v Speaker 1>AVGO expanding their work with Apple, and this is going

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<v Speaker 1>to take place through at least the next five years

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<v Speaker 1>of development, so apply products for multiple generations of Apple's devices.

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<v Speaker 1>Broadcom has long made connectivity components for the iPhone, the

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<v Speaker 1>stock that has gained about thirty percent over the past

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<v Speaker 1>year as the Yeah, the AI boom is fuel demand

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<v Speaker 1>for more semiconductors the company has, among other things. This

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<v Speaker 1>deal actually comes as the price of memory and storage

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<v Speaker 1>chips as surge in recent months. So you know, why

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<v Speaker 1>not try to do you have a third chip stock

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<v Speaker 1>you'd like to, well, let me do this chip. Remember

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<v Speaker 1>Honeywell International, they did a bunch of spin offs trying

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<v Speaker 1>to like trim things down. One of the spin offs

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<v Speaker 1>was Solstice Advanced Materials. They are now acquiring Element Solutions

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<v Speaker 1>cash and stock deal. It's not a small deal, fourteen

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<v Speaker 1>and a half billion dollars. So this has created market

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<v Speaker 1>leader in the specialty chemicals sector Semis. No, it's not Semis,

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<v Speaker 1>it's Chemicals Elements shareholders. We'll loan about forty four percent

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<v Speaker 1>of the combined company. The deal values it includes the

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<v Speaker 1>assumption of net debt. Solstice makes materials, including polymers and

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<v Speaker 1>performance fluid elements. Focus is on products used in sectors

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<v Speaker 1>including electronics and semiconductors. There's the connection. Honeywell announced in

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<v Speaker 1>October twenty twenty four it would hive Solstice off into

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<v Speaker 1>a separate company.

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