IHS Chemical Week

Schulman retains investment bank to advise on Ferro offer

10:49 AM MDT | March 22, 2013

A. Schulman has retained investment bank Moelis & Company (New York) to advise on its $6.50/share hostile bid for Ferro. The bid, which totals $855 million, has been rejected by Ferro’s board. Schulman says that Ferro’s board dismissed the bid “hastily,” and has opted not to enter into negotiations or conduct due diligence. "We are pleased to have Moelis & Company on board to assist us in our continued pursuit of this compelling business combination," says Schulman chairman and CEO Joseph Gingo. "Since we announced our offer, we have had active...

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