H.B. Fuller, the world’s largest pure-play adhesives company, confirmed receipt of an unsolicited proposal from Ancora Holdings to acquire its Building Adhesives Solutions (BAS) business for between $1.1 billion and $1.2 billion in cash.
Although Ancora previously expressed a passing verbal interest in BAS, the letter received, coinciding with the news being made public, represents the first offer Ancora has made for the business.
H.B. Fuller’s management team and Board of Directors are said to review the company’s portfolio to maximize shareholder value regularly, and the Board is now expected to carefully evaluate the proposal in consultation with its financial and legal advisors.
Source: chemanager-online.com
Sika AG said Aug. 19 that it has placed an inaugural hybrid capital bond with a total amount of €1 billion split into two €500-million tranches. The net proceeds of the transaction will be used for general corporate purposes including financing of bolt-on acquisitions and refinancing of existing financial indebtedness, the company said.
Outokumpu Oyj (Helsinki, Finland) is inaugurating a new agglomeration plant for biocoke in Tornio, Finland. The plant enables the replacement of fossil coke with biomass-based biocoke in ferrochrome production. The investment marks a significant step forward in the company’s efforts to reduce its direct carbon dioxide emissions and develop low-carbon stainless steel production.
Tioxide Materials Limited (Tioxide) recently announced the successful recommissioning of the titanium dioxide (TiO2) pigment production facility at Greatham in Hartlepool, UK, marking a major milestone following LB Group’s acquisition of the site and its associated TiO2 pigment assets earlier this year.
