The revised offer has been approved unanimously by the Minerals Technologies board and is superior to the recently announced $42.75 per share offer made by Paris-based Imerys SA for Amcol.
JPMorgan has provided signed commitment papers with respect to financing the purchase price of the transaction.
Minerals Technologies (MTI) expects the transaction to be immediately accretive to earnings upon closing, excluding acquisition-related costs and charges, even before consideration of significant synergies.
The transaction is expected to close in the first half of 2014 and would be subject to customary closing conditions.
Source: Minerals Technologies
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