MW This industrials company is joining the S&P 500 soon
By Claudia Assis
Lennox is in, Catalent is out as deal with Novo Nordisk closes
Heating and air-conditioning equipment maker Lennox International Inc. is replacing contract drug maker Catalent Inc. in the S&P 500, S&P Dow Jones Indices said late Wednesday.
Novo Nordisk's controlling shareholder, Novo Holdings, has bought Catalent in a $16.5 billion deal that closed earlier Wednesday.
At the time the deal was announced, Novo Nordisk (DK:NOVO.B), the maker of diabetes drugs Wegovy and others, said it was "aligned" with its strategy of reaching more people living with diabetes and obesity and it would enable "an expansion of the manufacturing capacity."
S&P Dow Jones Indices also said that Bill Holdings Inc. $(BILL)$ is the company replacing Lennox International $(LII)$ in the S&P MidCap 400. The changes are effective at the open on Monday.
Shares of Lennox International rose nearly 4% in the extended session Wednesday, after ending the regular trading day down 2.9%. The stock has gained nearly 43% this year, compared with an advance of 23% for the S&P 500 index SPX.
-Claudia Assis
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(END) Dow Jones Newswires
December 18, 2024 17:56 ET (22:56 GMT)
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