People & Business :: Earnings/Finance
Schulman retains investment bank to advise on Ferro offer
10:15 AM MDT | March 22, 2013 | Vincent Valk
A. Schulman has retained Moelis & Company (New York), an investment bank, to advise on the company’s $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...
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