Minerals Technologies to buy Amcol for $1.7 billion

March 10 Mon Mar 10, 2014 9:45am EDT

March 10 (Reuters) - Minerals Technologies Inc said it would buy Amcol International Corp for about $1.7 billion, after Paris-based Imerys SA failed to match Minerals' sweetened bid of $45.75 per share.

Amcol had previously asked Imerys to match Minerals' offer of $45.75 per share.

Amcol shares fell 2 percent to $45.69 in early trading on Monday.

The company has large reserves of bentonite, a mineral used in the construction and energy industries.