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IMERYS To Acquire AMCOL Int'l. For $1.6 Bln, Incl. Debt - Quick Facts

AMCOL International Corp. (ACO) has reached a definitive merger deal with Imerys S.A., under which AMCOL shareholders would receive $41 per share cash for each AMCOL common share that they own, without interest. The $41 per share consideration represents nearly 19% premium to the volume weighted average closing price of the company's common stock over the last 30 trading days through February 11, 2014. The transaction, worth around $1.6 billion, including AMCOL's debt, represents around 10.3x 2013 EBITDA adjusted to reflect one-time events.

As part of the merger agreement, Imerys would begin a tender offer for 100% of AMCOL's outstanding shares for $41 per share cash. Imerys anticipates to begin the tender offer within 10 business days of the date of the merger agreement. Following the tender offer closure, Imerys' subsidiary would merge with and into AMCOL, with AMCOL continuing as the surviving corporation, and all AMCOL shares not tendered in the offer would be converted into the right to receive $41 per share cash, without interest. The transaction is not subject to any financing condition and it may close in the first half of 2014.

Goldman, Sachs & Co. is serving as exclusive financial advisor to the Company and Kirkland & Ellis LLP is serving as counsel to the Company in connection with the transaction.

by RTT Staff Writer

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