The $42.75 per share consideration represents an approximately 24.5% premium to the volume weighted average closing price of the Company’s common stock over the last 30 trading days through 11 February 2014, the day prior to the announcement of the original transaction. The transaction is valued at approximately $1.61bn, including Amcol’s net debt.
Pursuant to the amended merger agreement, Imerys has agreed to increase its tender offer for 100% of Amcol’s outstanding shares to $42.75 per share in cash. Imerys’ tender offer remains subject to customary conditions, including the tender of a majority of Amcol’s total outstanding shares of common stock and shares issuable under equity awards, and clearance from antitrust regulatory authorities.
The transaction is not subject to any financing condition and is expected to close in the first half of 2014.
Source: Amcol
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