Joined Nov 11, 2007
31,929 Blog Posts

$SHLM Offers an Unsolicited Bid for $FOE

“Specialty chemicals firm Ferro Corp. (NYSE: FOE) has received an unsolicited buyout offer from A. Schulman Inc. (NASDAQ: SHLM), another provider of specialty chemicals and plastics. The total value of Schulman’s offer is about $563 million, or $6.50 a share, of which half will be paid in cash and half in Schulman common stock.

According to Schulman’s press release, the offer represents a 25% premium to Ferro’s closing price on Friday and a 32% premium over the volume-weighted average trading price for the past 60 days. Including debt, Schulman’s offer totals $855 million….”

Read more

If you enjoy the content at iBankCoin, please follow us on Twitter