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People & Business :: Companies

MTI to acquire Amcol

12:28 PM MDT | March 10, 2014 | Vincent Valk

Minerals Technologies today announced that it has entered into an agreement to buy Amcol (Hoffman Estates, IL) for about $1.7 billion, or $45.75/share in cash, ending a weeks-looking bidding war with Imerys. The deal is expected to close in the first half of this year. Amcol, a maker of bentonite and minerals, will pay a $39-million termination fee to Imerys in conjunction with ending the two companies’ merger agreement. "The combination of MTI and Amcol will create a minerals platform that is well positioned for growth through geographic expansion and...

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