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Chemical Week Magazine :: Business & Finance :: United States/Americas

Schulman retains investment bank to advise on Ferro bid

6:11 AM MDT | March 29, 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. “Since we announced our offer, we have had active discussions with many Ferro shareholders, and the overwhelming majority of those shareholders strongly stated that Ferro’s board...

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