Elementis rejects improved takeover bid by Minerals Technologies

摘要

Specialty chemicals producer Elementis (London, UK) has rejected a second and improved possible takeover ofer from Minerals Technologies (New York, New York) that values the company at ￡679 million ($905 million). Minerals made a second approach on 24 November regarding a possible all-cash ofer to acquire Elementis, with the board of Elementis rejecting the revised proposal “after approximately two hours,” Minerals says. The increased proposal comprised an ofer of 117 pence per Elementis share, representing a rise of 9% on the initial proposal by Minerals of 107 pence per share.