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Pin to quick picksElementis Share News (ELM)

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Elementis Rejects Increased Takeover Offer From Mineral Technologies

Wed, 25th Nov 2020 11:55

(Alliance News) - Specialty chemicals firm Elementis PLC on Wednesday announced the rejection of a higher offer made by diversified resources firm Mineral Technologies Inc.

The company confirmed that on Tuesday Mineral Technologies had handed Elementis a revised cash offer of 117 pence per share a 9% increase from 107p first proposed in mid-November. With 580.8 million shares in issue, the deal values Elementis at GBP679.5 million.

"The board of Elementis considered the revised conditional proposal together with its financial adviser, Rothschild & Co, and concluded that the revised conditional proposal significantly undervalued Elementis and its future prospects. Accordingly, on 24 November 2020 the board of Elementis unanimously rejected the revised conditional proposal," the company stated.

Mineral Technologies still has until December 10 to make a firm offer for Elementis, or walk away.

Shares in Elementis were up 2.7% at 111.70 pence on Wednesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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12 Apr 2024 12:04

IN BRIEF: Elementis CFO Ralph Hewins sells GBP200,000 in shares

Elementis PLC - London-based chemicals company, which manufacturers ingredients for consumer and industrial products for a variety of industries - Chief Financial Officer Ralph Hewins sells 136,502 shares at GBP1.44 each, worth GBP196,563, in London on Wednesday.

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20 Mar 2024 09:04

HSBC 'impressed' by quality of Elementis portfolio

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7 Mar 2024 09:03

Elementis FY operating profits grow, revenues slip

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UK earnings, trading statements calendar - next 7 days

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Greggs PLCFull Year Results
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Keller Group PLCFull Year Results
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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31 Jan 2024 10:42

Jefferies ups ratings on Elementis, XP Power and Spirax-Sarco

(Sharecast News) - Jefferies has adjusted its ratings on stocks across in a review of the UK-listed capital goods sector, which included upgrades of Elementis, XP Power and Spirax-Sarco Engineering.

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31 Jan 2024 09:21

LONDON BROKER RATINGS: Jefferies raises Spirax-Sarco; cuts Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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LONDON BRIEFING: Stocks called up; GSK revenue and profit up

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LONDON MARKET MIDDAY: Stocks down before expected ECB hold and US data

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PE firm KPS said to have explored takeover offer for Elementis, shares surge

(Sharecast News) - Elementis surged on Thursday following a report that KPS Capital Partners recently explored a bid for the specialty chemicals firm.

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