|Minerals Technologies Completes Acquisition of AMCOL International|
NEW YORK, NY -May 9, 2014-Minerals Technologies Inc. (NYSE: MTX) today announced the completion of its acquisition of AMCOL International Corporation (NYSE: ACO). Following the completion of its successful tender offer to purchase all outstanding AMCOL shares for $45.75 per share in cash, Minerals Technologies Inc. (MTI) acquired all remaining AMCOL shares through a merger under Section 251(h) of the General Corporation Law of the State of Delaware.
At the effective time of the merger, all remaining shares of AMCOL common stock not tendered into the tender offer and not owned by MTI were converted into the right to receive $45.75 in cash, which is the same price that was paid in the tender offer. As a result of the transaction, AMCOL has become a wholly owned subsidiary of MTI.
"Our combined company is now a more diversified, global leader in industrial minerals with strong market positions in both bentonite and precipitated calcium carbonate. We are competitively poised for further growth in our current markets and through new product innovation for our valued customers," said Joseph C. Muscari, chairman and chief executive officer of Minerals Technologies. "We look forward to working with management and employees as we focus on a seamless integration."
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