Minerals Technologies Inc raised its offer to purchase Amcol International Corp to about $1.38 billion.The offer of $42.50 per share represents a 7 percent discount to Amcol's Monday close.U.S.-based Minerals Technologies and France's Imerys are both bidding for Amcol, a company that owns large reserves of bentonite, a key mineral used in construction and energy industries.AMCOL confirmed the receipt of Minerals Technologies' revised proposal and said the board will review and consider the offer.
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 fell by 0.13% or $-0.06/share to $45.48. In the past year, the shares have traded as low as $27.59 and as high as $45.91. On average, 268220 shares of ACO exchange hands on a given day and today's volume is recorded at 552014.
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 fell by 0.34% or $-0.18/share to $52.57. In the past year, the shares have traded as low as $38.24 and as high as $60.75. On average, 171789 shares of MTX exchange hands on a given day and today's volume is recorded at 112665.
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