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Minerals Technologies launches bid for Amcol (updated)
12:31 PM MST | February 21, 2014 | Vincent Valk
Minerals Technologies (MTI) today launched a $42/share unsolicited bid for minerals firm Amcol International (Hoffman Estates, IL), setting in motion a possible bidding war with Imerys, which agreed to acquire Amcol on Wednesday for about $1.6 billion, or $41/share, including debt. Assuming a similar amount of debt, MTI’s bid would value Amcol at about $1.63 billion. MTI says the deal would be immediately accretive to the company’s earnings and could close during the first half of this year. Amcol’s board said in a regulatory filing today that...
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