IHS Chemical Week

People & Business :: M&A

A. Schulman drops bid to acquire Ferro

12:47 AM MDT | July 3, 2013 | Natasha Alperowicz

A. Schulman has dropped its bid for Ferro, about 4 months after it had offered $563 million for the company. "We have given Ferro's board ample time to come back to us to initiate a discussion," A. Schulman CEO Joe Gingo said on a conference call with analysts on Tuesday. A. Schulman approached Ferro’s board late last year and made a formal offer in March but both offers were rejected. A Shulman's offer of $6.50/share was rejected by Ferro's board outright and had expired sometime ago. "On May 30th Ferro formed a strategic committee and...

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