Rayonier Advanced Materials jumps after disclosing rejected bid

[stop the pulp cellulose sheets are prefabricated for making paper]
pticelov/iStock via Getty Images

Rayonier Advanced Materials (RYAM [https://seekingalpha.com/symbol/RYAM]) soared 42% after it was disclosed that it rejected an offer of $11 to $12 a share for the company.

American Industrial Partners disclosed that it bid $11-$12 a share in cash for Rayonier Advanced (RYAM [https://seekingalpha.com/symbol/RYAM]) in November, according to a 13D filing [https://seekingalpha.com/filing/170481367] on Wednesday. American Industrial has a 5.07% stake in Rayonier Advanced.

AIP received a letter in December rejecting the offer, according to the filing.

Rayonier Advanced (RYAM [https://seekingalpha.com/symbol/RYAM]) has a market cap of ~$500 million. The company is set to report Q4 results next Wednesday. [https://seekingalpha.com/pr/20404723-ryam-schedules-fourth-quarter-2025-earnings-release]

MORE ON RAYONIER ADVANCED

* Rayonier Advanced Materials appoints Scott Sutton as CEO [https://seekingalpha.com/news/4536604-rayonier-advanced-materials-appoints-scott-sutton-as-ceo]
* Seeking Alpha’s Quant Rating on Rayonier Advanced [https://seekingalpha.com/symbol/RYAM/ratings/quant-ratings]
* Historical earnings data for Rayonier Advanced [https://seekingalpha.com/symbol/RYAM/earnings]
* Financial information for Rayonier Advanced [https://seekingalpha.com/symbol/RYAM/income-statement]