Minerals Technologies Inc offered to purchase minerals and materials group AMCOL International Corp for $1.36 billion, topping an offer from France's Imerys . Minerals Technologies offered to buy AMCOL for $42 per share, higher than the $41 per share Imerys offered on Wednesday."Our proposal is clearly superior to the existing deal for AMCOL, and we look forward to working with AMCOL to consummate this superior transaction as soon as is practicable," said Minerals Technologies Chief Executive Joseph Muscari.Minerals Technologies produces calcium carbonate, used to whiten everything from paper to talc, while AMCOL produces bentonite, a mineral with uses ranging from metal-casting in the auto industry to construction and drilling.
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 0.27% or $0.11/share to $41.35. In the past year, the shares have traded as low as $27.59 and as high as $41.67. On average, 188761 shares of ACO exchange hands on a given day and today's volume is recorded at 1376134.
Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services. Shares of MTX traded higher by 1.61% or $0.84/share to $53.08. In the past year, the shares have traded as low as $38.24 and as high as $60.75. On average, 168705 shares of MTX exchange hands on a given day and today's volume is recorded at 192701.
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