Minerals Technologies raises bid to acquire AMCOL to $45.75 per share Minerals Technologies (MTX) announced that it has made an increased binding cash offer of $45.75 per share to acquire all outstanding shares of AMCOL International (ACO) of Hoffman Estates, Illinois. The increased binding offer by Minerals Technologies is superior to the bid of $45.25 offered on March 4, by Paris-based Imerys S.A. MTI's increased offer again provides the greatest value available to AMCOL's shareholders. The revised offer has been approved unanimously by the Minerals Technologies board. MTI also confirmed that it had removed the financing contingency in the merger agreement conveyed to the AMCOL board on March 4. MTI expects the transaction to be immediately accretive to earnings upon closing, excluding acquisition-related costs and charges, even before consideration of synergies. The transaction is expected to close in the first half of 2014.
News For MTX;ACO From The Last 14 Days
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On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with an Equal Weight at Morgan Stanley... Actinium Pharmaceuticals (ATNM) initiated with a Buy at Canaccord... Axys Technologies (AXYS) initiated with a Buy at Dougherty... Chambers Street Properties (CSG) initiated with a Neutral at SunTrust... Enphase Energy (ENPH) initiated with a Buy at Dougherty... Minerals Technologies (MTX) initiated with an Outperform at Wedbush... NextEra Energy Partners (NEP) initiated with a Buy at BofA/Merrill... PTC Therapeutics (PTCT) initiated with a Buy at BofA/Merrill... QIWI (QIWI) initiated with a Positive at Susquehanna... Quality Systems (QSII) initiated with a Buy at Topeka... Sarepta (SRPT) initiated with a Neutral at BofA/Merrill... Trinseo S.A. (TSE) initiated with a Buy at BofA/Merrill... Washington Prime Group (WPG) initiated with a Neutral at SunTrust... Zhaopin (ZPIN) initiated with a Buy at UBS.