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H.B. Fuller Unit Receives Cash Bid From Ancora for Up to $1.2 Billion

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H.B. Fuller's (FUL) Building Adhesive Solutions segment has received a $1.1 billion to $1.2 billion cash acquisition bid from Ancora, the investment advisory firm said Wednesday.

Ancora said it privately reached out to H.B. Fuller's leadership in July to express interest in a "carve-out" transaction of the adhesives unit, but it has not received a substantive response.

The investment firm said it has the financial backing to consummate the acquisition and is ready to conduct due diligence, negotiate and prepare definitive documentation, as well as finalize and enter into binding agreements.

"We ask that the board's independent members finally let us know if H.B. Fuller wants to explore the contemplated transaction," Ancora added.

H.B. Fuller did not immediately respond to' request for comment.

Price: $62.53, Change: $+0.50, Percent Change: +0.81%

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