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People & Business :: Earnings/Finance
Minerals Technologies raises Amcol bid
9:38 AM MST | February 25, 2014 | Vincent Valk
Minerals Technologies (MTI) has raised its bid to acquire bentonite maker Amcol (Hoffman Estates, IL) to $42.50/share from $42/share. The revised bid values Amcol’s shares at $1.38 billion. Earlier this month, Amcol agreed to be acquired by Imerys for $41/share, or about $1.6 billion, including debt. However, Amcol’s board is evaluating MTI’s offer and says it could represent a superior proposal under the terms of the merger agreement with Imerys. MTI’s revised offer would value Amcol at about $1.65 billion with the same amount of assumed...
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