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Wednesday, February 12, 2014

Imerys agrees to purchase AMCOL International in $1.6 billion deal, (NYSE: ACO)

Imerys has agreed to purchase minerals and materials group AMCOL International Corp for about $1.6 billion including debt, it said in a statement on Wednesday. The acquisition, priced at $41 per AMCOL share, is expected to generate "significant commercial and operational synergies" and is expected to boost earnings per share from the first full year of integration, in 2015, Imerys said.

AMCOL International Corporation (AMCOL) is focused on the development and application of minerals and technology products and services to various industrial and consumer markets. Shares of ACO traded higher by 2.0% or $0.72/share to $36.72. In the past year, the shares have traded as low as $27.59 and as high as $37.05. On average, 119895 shares of ACO exchange hands on a given day and today's volume is recorded at 104337.