IHS Chemical Week

Ferro shareholder criticizes board's refusal to negotiate with Schulman

11:08 AM MST | March 7, 2013

At least one shareholder is criticizing Ferro Corp.'s refusal to enter into negotiations with A. Schulman, which earlier this week announced a hostile bid for Ferro at $6.50/share. "We believe the Schulman bid undervalues Ferro," says Jeffrey Quinn, former Solutia CEO and founder of Quinpario Partners. "However, we are greatly dismayed that the board would not engage with a logical strategic buyer to determine if a transaction could be in the best interest of all shareholders,” Quinn adds. “This along with the fact that the company would conduct its earnings...

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