Amcol Investor Tries To Block Imerys' $1.6B Buyout

Law360, Wilmington (February 24, 2014, 5:15 PM EST) -- An Amcol International Corp. investor launched a putative class action Friday to halt Imerys SA's planned $1.6 billion buyout, claiming the deal undervalues Amcol and prevents shareholders from realizing the benefits from Minerals Technologies Inc.'s subsequent higher bid.

Filed in Delaware Chancery Court, the complaint alleges that Amcol's board shortchanged shareholders by agreeing to a deal with Imerys that features bid-protection devices — including a termination fee of up to $39 million — that serve to dampen better offers.

While Minerals Technologies' bid of $42 per...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.