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Prices & Quotes - UK Markets - Elementis (ELM)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 147.90p
Change Today:
-4.40p
Market Cap:
860.31m
Sector:
Chemicals

Elementis rejects third offer from US rival Minerals Technologies

By Michele Maatouk

Date: Monday 07 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Chemicals company Elementis said on Monday that it has rejected a third takeover offer from US rival Minerals Technologies of 130p a share, arguing that it significantly undervalues the business.
Elementis had already rejected an offer of 107p a share and one of 117p a share. Minerals Technologies made its first approach last month.

The latest offer "falls significantly short of value that would merit engagement and access to the company's non-public information, despite the continued opportunistic bidding tactics of Minerals Technologies," Elementis said.

"Given that the proposal continues to significantly undervalue Elementis and its future prospects, the board unanimously rejected the proposal."

Elementis said the offer was "highly opportunistic", coming at a low point of earnings and value, and ignores the company's clear strategy to create value for its shareholders.

Chairman Andrew Duff said: "Elementis has refocused its business and built strong market positions in three high margin specialist sectors with strong underlying growth. We have a clear strategy to capture this growth and profitability and we are confident that this will deliver significant value for our shareholders. It is the quality of these businesses that has attracted Minerals Technologies.

"As a board, we are fully aware of our responsibility to create and capture value for our shareholders, but this 'best offer' falls well short of that threshold for us to engage."

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Elementis Market Data

Currency UK Pounds
Price 147.90p
Change Today -4.40p
52 Week High 161.70p
52 Week Low 61.75p
Volume 551,998
Shares Issued 581.69m
Market Cap 860.31m

Performance Indicators

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Dividend Yield
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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 3
Sell 1
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Elementis Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 05-Sep-19
Paid n/a 27-Sep-19
Amount 0.000¢ 2.80¢

Trades for 15-Jun-2021

Time Volume / Share Price
11:33 482 @ 147.90p
11:33 390 @ 147.90p
11:33 457 @ 147.90p
11:33 86 @ 147.90p
11:33 352 @ 147.90p

Elementis Key Personnel

Chair Andrew Duff
CEO Paul Waterman