US firm outbids European rival Imerys for polymer and speciality minerals supplier
US firm Minerals Technologies (MTI) has outbid European rival Imerys to acquire polymer and speciality minerals supplier Amcol for $1.7 billion (£1 billion).
The deal overturns an agreed merger between Imerys and Amcol, forcing Amcol to pay Imerys a termination fee of $39 million.
All three companies produce mineral-derived materials for industrial applications, such as clays, abrasives, pigments, fillers and binders. In a statement, MTI claimed that the deal would ‘bring together the global leaders in precipitated calcium carbonate and bentonite, creating an even more robust US-based international minerals supplier’.
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