Minerals Technologies Inc: Minerals Technologies Makes Proposal of $42 per Share to Acquire AMCOL International Proposal Superior to Existing Agreement for AMCOL NEW YORK, February 14, 2014-Minerals Technologies Inc. (NYSE:MTX) announced today that it has made a proposal to acquire all outstanding shares of AMCOL International Corporation (NYSE: ACO) for $42 per share in cash. The offer was conveyed in a letter to AMCOL's board of directors. Minerals Technologies' offer is superior to the $41 per share offer announced February 12^th by Paris-based Imerys S.A. for AMCOL. Minerals Technologies expects the transaction to be immediately accretive to earnings upon closing, excluding acquisition-related costs and charges, even before consideration of expected synergies. The transaction is expected to close in the first half of 2014 and would be conditioned upon customary closing conditions. "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 Joseph C. Muscari, executive chairman of Minerals Technologies Inc. "Strategically, it's a strong fit. We each have differentiated product and process technologies, and similar geographic expansion initiatives that will be further advanced by the combination. With this transaction, MTI will continue to generate strong cash flow and drive long-term shareholder value." MTI's acquisition strategy has been focused on minerals-based, technology-driven growth companies in complementary end markets such as environmental, energy and consumer products. This transaction combines AMCOL's track record of growth in each of these markets with MTI's demonstrated ability for geographic expansion and operational excellence. Both companies are customer-focused technology and innovation leaders. The transaction combines MTI's global leadership in precipitated calcium carbonate (PCC) with AMCOL's global leadership in bentonite, creating a stronger US-based global minerals supplier. Both AMCOL and MTI are world-class innovators in mineralogy, fine particle technology and polymer chemistry centered on providing customer solutions. "MTI is a strong, high-performance operating company with a demonstrated track record of continuous performance improvement, which will enable us to achieve superior returns for our shareholders over time," added Mr. Muscari. New York-based Minerals Technologies Inc. is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The company recorded sales of $1.02 billion in 2013. Cravath, Swaine & Moore LLP is acting as legal counsel to Minerals Technologies and Lazard is acting as its financial advisor. This press release may contain forward-looking statements, which describe or are based on current expectations; in particular, statements of anticipated changes in the business environment in which the company operates and in the company's future operating results relating to the company's offer and the potential benefits of a transaction with AMCOL. Actual results may differ materially from these expectations. In addition, any statements that are not historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates," "will," and similar expressions) should also be considered to be forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned in the risk factors and other cautionary statements in our 2012 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission. Media Brunswick Group Steve Lipin/Lauren Odell 212-333-3810 Minerals Technologies Rick B. Honey 212-878-1831 ------------------------------------------------------------------------------ This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Minerals Technologies Inc via Globenewswire HUG#1762003
Minerals Technologies Inc: Minerals Technologies Makes Proposal of $42 per Share to Acquire AMCOL International
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