Yahoo Finance Minerals Tech lifts offer for Amcol again
Minerals Technologies raises bid for Amcol again as bidding war heats up
NEW YORK (AP) -- Minerals Technologies is boosting its offer for Amcol International again, as bidding for the minerals and oilfield services company heats up.
On Wednesday Minerals Technologies Inc. which produces both mineral and synthetic mineral products, increased its bid for Amcol to $42.50 per share, or approximately $1.38 billion, from $42 per share.
Two days later French minerals producer Imerys raised its offer to $42.75 per share, or about $1.39 billion, from $41 per share. Amcol International Corp. said at the time that it accepted Imerys' new offer.
On Monday Minerals Technologies raised its offer to $45 per share, or approximately $1.46 billion. The New York company said that its revised bid for Hoffman Estates, Ill.-based Amcol is superior to Imerys' latest offer.
Minerals Technologies said its new offer has been conveyed to Amcol's board.
Amcol's stock gained $2.12, or 4.8 percent, to $46.50 in Monday premarket trading, while shares of Minerals Technologies added 1 cent to $53.51.
