Boston, MA 02\/14\/2014 (wallstreetpr) –\u00a0On Feb 14, Mineral Technologies Inc (NYSE:MTX)<\/b> announced its proposal to purchase all outstanding shares of AMCOL International Corporation (NYSE:ACO) <\/b>for $42 a share.<\/p>\n
Mineral Technologies conveyed the proposal in a letter to AMCOL\u2019s board of directors. A similar offer had been made to AMCOL on Feb 12 by Paris based Imerys S.A. However, it had offered the deal for $41 per share. Mineral Technologies expects to complete the transaction within the first half of the year.<\/p>\n
MTI expects the deal to immediately accretive to earnings upon closing, excluding expenses involving takeover. In this context, the company\u2019s executive chairman, Joseph C. Muscari said that the company has distinguished products and business technologies and hence expansion in similar regions could be made possible with the merger. He expects the company to generate increased revenue and higher profits to share with the shareholders.<\/p>\n
MTI\u2019s merger scheme<\/b><\/p>\n
MTI\u2019s merger scheme focuses on mineral based, technology driven growth companies having presence in consumer markers like energy, environmental and consumer products. The company is planning to go ahead with the acquisition with the target of combining AMCOL International Corporation (NYSE:ACO)<\/b>\u2019s growth record in each of these markets with its own capacity for geographical expansion as well as operational excellence. Both MTI and AMCOL are leaders in customer focused technology and innovation.<\/p>\n
This merger foresees a strong global minerals supplier in the U.S. as it brings together the leadership of MTI in precipitated calcium carbonate (PCC) and AMCOL International Corporation (NYSE:ACO)<\/b>\u2019s global leadership in bentonite. Not only this, both the companies are leading innovators in the mineralogy industry, fine particle technology and polymer chemistry focusing on providing consumer solutions.<\/p>\n
In 2013, the New York based resource and technology growth company reported recorded sales of $1.02 billion. The developer, producer and seller of specialty mineral, mineral based and synthetic mineral products is a high performance operating company which has exhibited remarkable track record of continuous improvement in performance.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 02\/14\/2014 (wallstreetpr) –\u00a0On Feb 14, Mineral Technologies Inc (NYSE:MTX) announced its proposal to purchase all outstanding shares of AMCOL International Corporation (NYSE:ACO) for […]<\/p>\n","protected":false},"author":13,"featured_media":15419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[4605,4607,4606,4608],"stock_ticker":[],"class_list":["post-15409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-amcol-international-corporation-nyseaco","tag-mineral-technologies-inc-nysemtx","tag-nyseaco","tag-nysemtx","entry"],"acf":[],"yoast_head":"\n