Taminco jumps after news of Eastman Chemical deal

NEW YORK (Reuters) - Taminco Corp shares were up 11 percent on Thursday after Eastman Chemical Co said it will acquire the specialty chemical company.

Shares of Eastman Chemical were up 1.5 percent.

Eastman Chemical's offer of $26 per share represents an 8.9 percent premium to Taminco's Wednesday close.

Among other big movers in the materials sector, Dow Chemical's stock was down 1.3 percent after a federal appeals court decided Dow Chemical was not entitled to more than $1 billion of tax deductions based on a decade of transactions with "sham" partnerships that Goldman and the law firm King & Spalding promoted.

(Editing by Bernadette Baum)