Mar. 16, 2015, 8:31 AM
- A. Schulman (NASDAQ:SHLM) agrees to acquire Citadel Plastics for $800M, a move the plastics manufacturer believes will expand its product portfolio into specialty plastics and gain access to new industries.
- SHLM expects the deal to add to earnings in the first 12 months and perhaps contribute as much as $25M within 18 months, due mostly to sourcing and plant efficiency actions.
- Citadel had ~$525M of pro-forma revenue in 2014.
Jun. 4, 2014, 9:12 AM
- A. Schulman (SHLM) agrees to acquire a majority of the assets of Ferro's (FOE) specialty plastics business segment for $91M.
- The purchase agreement includes four facilities located in the U.S. as well as operations in Spain; it does not include FOE's plastics business and operations in Edison, N.J., and Carabobo, Venezuela.
- Ferro also says it has launched a process to market its polymer additives business, and updates FY 2014 and 2015 earnings guidance to reflect the acquisition.
Jul. 2, 2013, 11:34 AM
May 28, 2013, 5:20 PM
A. Schulman (SHLM) will buy the plastics compounder and distributor Network Polymers for $50M. SHLM sees multiple synergies from the deal which it says will also help it "achieve greater penetration in key markets such as building and construction." (PR)| May 28, 2013, 5:20 PM
Mar. 5, 2013, 11:43 AM
Ferro (FOE -2.8%) says it will redeploy, divest or curtail assets that can't generate sufficient returns, and is reviewing its product lines to determine potential to create value and generate cash, a day after it rejected A. Schulman's (SHLM +1.2%) $563M buyout offer. Much of FOE's 8% drop in Q4 revenues is traced to weakness in its electronic materials business.| Mar. 5, 2013, 11:43 AM
Mar. 4, 2013, 7:43 AM
Ferro Corporation (FOE) receives a buyout offer of $6.50/share in cash and stock from A. Schulman (SHLM). The price represents a 25% premium to Friday's close. Schulman estimates the merger can achieve $35M in cost savings beyond Ferro's current targets. FOE +25% premarket. (PR)| Mar. 4, 2013, 7:43 AM | 2 Comments
Jan. 31, 2012, 10:03 AM
Jan. 30, 2012, 4:17 PM