Minerals Technologies to be acquired for $3.7B
Ticker: MTX · Form: 8-K · Filed: Jul 29, 2024 · CIK: 891014
| Field | Detail |
|---|---|
| Company | Minerals Technologies Inc (MTX) |
| Form Type | 8-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, private-equity
Related Tickers: MTI
TL;DR
MTI going private! American Securities buying for $3.7B ($72/share). Deal closes Q4.
AI Summary
Minerals Technologies Inc. (MTI) announced on July 26, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of American Securities LLC. The transaction is valued at approximately $3.7 billion, or $72.00 per share in cash. The deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by American Securities LLC at a significant premium indicates strong investor confidence in Minerals Technologies' future prospects and could lead to substantial returns for shareholders.
Risk Assessment
Risk Level: low — The acquisition is at a significant premium and is expected to close, indicating low immediate risk for shareholders.
Key Numbers
- $3.7B — Acquisition Value (Total price for Minerals Technologies Inc.)
- $72.00 — Price Per Share (Cash consideration for each share of MTI)
Key Players & Entities
- Minerals Technologies Inc. (company) — Company being acquired
- American Securities LLC (company) — Acquiring entity
- $3.7 billion (dollar_amount) — Total transaction value
- $72.00 (dollar_amount) — Price per share
- July 26, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition agreement?
The acquisition agreement is valued at approximately $3.7 billion.
What price per share will shareholders receive?
Shareholders will receive $72.00 per share in cash.
Who is acquiring Minerals Technologies Inc.?
An affiliate of American Securities LLC is acquiring Minerals Technologies Inc.
When is the acquisition expected to close?
The transaction is expected to close in the fourth quarter of 2024.
What is the date of the definitive agreement?
The definitive agreement was entered into on July 26, 2024.
Filing Stats: 609 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-07-29 09:19:14
Key Financial Figures
- $0.10 — ange on which registered Common Stock, $0.10 par value MTX NYSE Check the appr
Filing Documents
- form8k.htm (8-K) — 35KB
- exhibit99_1.htm (EX-99.1) — 76KB
- ex99_2.htm (EX-99.2) — 48KB
- ex99_2slide1.jpg (GRAPHIC) — 70KB
- ex99_2slide2.jpg (GRAPHIC) — 312KB
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- ex99_2slide15.jpg (GRAPHIC) — 50KB
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- ex99_2slide18.jpg (GRAPHIC) — 137KB
- ex99_2slide19.jpg (GRAPHIC) — 119KB
- ex99_2slide20.jpg (GRAPHIC) — 171KB
- ex99_2slide21.jpg (GRAPHIC) — 66KB
- 0000891014-24-000093.txt ( ) — 3929KB
- mtx-20240726.xsd (EX-101.SCH) — 4KB
- mtx-20240726_lab.xml (EX-101.LAB) — 21KB
- mtx-20240726_pre.xml (EX-101.PRE) — 16KB
- form8k_htm.xml (XML) — 4KB
02
Item 2.02 Results of Operations and Financial Condition. On July 26, 2024, Minerals Technologies Inc. (the "Company") held its second quarter 2024 earnings conference call. As a result of technical issues with our third party service provider for this conference call, some listeners were not able to hear a portion of the webcast audio feed. Participants accessing the webcast were able to view the accompanying presentation slides that were posted in advance of the call. To ensure complete access to all of management's remarks, the Company is furnishing herewith a copy of the transcript of the conference call as Exhibit 99.1 and the presentation slides as Exhibit 99.2. The Company will post the transcript of the conference call to its website as expeditiously as possible. A replay of the webcast and a copy of the presentation slides are also available on the Company's website at www.mineralstech.com.
01
Item 7.01 Regulation FD Disclosure. The information in Item 2.02 above is incorporated herein by reference. The information in Item 2.02, this Item 7.01, and Exhibits 99.1 and 99.2, shall not be deemed filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 99.1 Transcript of the second quarter 2024 earnings conference call dated July 26, 2024 99.2 Presentation slides for the second quarter 2024 earnings conference call 104 Cover Page Interactive Data File (formatted as inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MINERALS TECHNOLOGIES INC. (Registrant) By: /s/ Timothy J. Jordan Name: Timothy J. Jordan Title: Vice President, General Counsel, Secretary and Chief Compliance Officer Date: July 29, 2024