Minerals Technologies raises bid for Amcol to $42.50

|By:, SA News Editor

AMCOL International (ACO) -5.6% AH after Minerals Technologies (MTX) increases its bid for the minerals and materials producer to $42.50 - a 7% discount to ACO's closing price today - and says it has obtained committed debt financing.

Earlier this month, MTX made a $42/share all-cash bid for ACO in an effort to top a standing deal with France's Imerys (IMYSF), which said last week it won't raise its offer of $41/share.