Chemical Week Magazine :: Business & Finance :: United States/Americas
Imerys raises Amcol bid to $42.50/share, exceeding MTI bid
7:49 AM MST | February 28, 2014 | —Vincent Valk
Imerys says it has raised its bid for bentonite maker Amcol (Hoffman Estates, IL) to $42.75/share from $41/share, exceeding Minerals Technologies’ (MTI) $42.50/share offer, which was announced on 24 February. MTI first launched a $42/share bid for Amcol on 14 February, triggering the bidding war. MTI is “assessing the situation and will respond in due course,” says a company spokesperson. The Imerys bid values Amcol at about $1.61 billion, including debt. Amcol’s board has unanimously approved Imerys’s revised offer. The two...
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