Minerals Technologies Inc. (“MTI”) and AMCOL International Corporation announced that they have signed a definitive merger agreement under which MTI will acquire AMCOL for $45.75 per share in cash, or a total value of approximately $1.7 billion. This transaction resulted from an unsolicited offer by MTI following the announcement of AMCOL’s proposed acquisition by Paris‑based Imerys S.A. on February 12, 2014 and a series of competing public bids by MTI and Imerys. Cravath represented Minerals Technologies in connection with this transaction, which has been unanimously approved by the boards of directors of both companies and is expected to close in the first half of 2014, subject to customary closing conditions.
The Cravath team included partners Scott A. Barshay and Andrew R. Thompson and associates Andrew C. Elken and Brent R. Tomlinson on M&A matters; partner Stephen M. Kessing and associate Nicholas M. Foley on finance matters; partner Eric W. Hilfers and practice area attorneys Lawrence A. Pasini and Michael Krasnovsky on executive compensation and benefits matters; partner Lauren Angelilli and associates Kara L. Mungovan and Jay S. Gill on tax matters; partner Matthew Morreale on environmental matters; partner Robert H. Baron on litigation matters; partner Christine A. Varney and practice area attorney Robin C. Landis on antitrust matters; and partner John D. Buretta on regulatory matters. Ryan M. Farha also worked on M&A matters; Tony Fan also worked on finance matters; and Matthew J. Bobby also worked on executive compensation and benefits matters.
