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Stock Market & Financial Investment News

News Breaks
February 25, 2014
05:22 EDTACO, MTXAMCOL confirms revised $42.50 takeout proposal from Minerals
AMCOL (ACO) confirmed that it has received a revised, unsolicited proposal from Minerals Technologies (MTX) to acquire all of the outstanding shares of the company at a price per share of $42.50 in cash. The revised proposal is dependent on MTI's receipt of sufficient financing for the transaction and proposes the payment by MTI of a reverse break-up fee to the company if such financing is not obtained. The AMCOL board, in consultation with its financial and legal advisors, said it will carefully review and consider the proposal. As previously announced, on February 11, AMCOL entered into a definitive merger agreement with Imerys pursuant to which AMCOL shareholders would receive $41.00 per share in cash for each share of AMCOL common stock that they own. The AMCOL board continues to recommend the transaction with Imerys to its stockholders and is not withdrawing its recommendation, or proposing to do so, at this time.
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