logo
Plus   Neg
Share
Email
Comment

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Angry protesters are planning more than 50 demonstrations on Friday at several Tim Hortons locations across Canada after some franchise owners in Ontario slashed workers' benefits as well as paid breaks in response to the Ontario government's minimum wage hike. The protests are being organized by advocacy group Leadnow and the Fight for $15 & Fairness Campaign. Athletic footwear giant Nike, Inc. on Thursday announced a new marketing head, in its efforts to boost market share. The company promoted Dirk-Jan "DJ" van Hameren as its VP, Chief Marketing Officer, effective immediately. Van Hameren will succeed Greg Hoffman, who has been appointed VP, Global Brand Creative & Marketing Innovation Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs.
comments powered by Disqus
Follow RTT