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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 148.50p
Change Today:
-0.20p
Market Cap:
863.81m
Sector:
Chemicals

Elementis shares slide as Minerals Technologies walks away

By Michele Maatouk

Date: Thursday 10 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Speciality chemicals company Elementis slumped on Thursday after US-based Minerals Technologies said it will not proceed with a proposed bid for the group, after its third offer was rejected.
"Further to the decision by the Elementis board to reject our increased all-cash possible offer for the company of 130p per Elementis share, Minerals Technologies announces today that it does not intend to make an offer for Elementis," Minerals it said.

The company said it believed its proposal "was fair, based on information in the public domain, and disagrees with the views expressed by the Elementis board in connection with its refusal to engage in discussions".

On Monday, Elementis rejected Minerals Technologies' third offer, arguing that it significantly undervalues the business. It 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 earlier this week.

In accordance with stock market regulations, Minerals Technologies was required to announce a firm intention to make an offer for Elementis or walk away by Thursday.

At 1145 GMT, Elementis shares were down 11% at 111.40p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Elementis Market Data

Currency UK Pounds
Price 148.50p
Change Today -0.20p
52 Week High 161.70p
52 Week Low 61.75p
Volume 213,057
Shares Issued 581.69m
Market Cap 863.81m

Performance Indicators

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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 22-Jun-2021

Time Volume / Share Price
14:42 636 @ 148.50p
14:42 400 @ 148.50p
14:42 1,200 @ 148.50p
14:42 400 @ 148.50p
14:42 400 @ 148.50p

Elementis Key Personnel

Chair Andrew Duff
CEO Paul Waterman