Minerals Technologies offers to buy AMCOL for $1.36 bln

Fri Feb 14, 2014 8:33am EST

Related Topics

Feb 14 (Reuters) - Minerals Technologies Inc offered to buy 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.

FILED UNDER: