H.B. Fuller Receives Unsolicited Adhesive Solutions Proposal

H.B. Fuller Company has confirmed that it has received an unsolicited proposal from Ancora Holdings Group to acquire its Building Adhesives Solutions (BAS) business for between $1.1 billion and $1.2 billion in cash.

While Ancora had previously expressed informal interest in the BAS business, the letter received by H.B. Fuller represents its first formal offer for the segment and was received at the same time as the proposal was made public.

H.B. Fuller’s management team and Board of Directors regularly review the Company’s portfolio with the aim of maximising shareholder value. In line with this approach, the Board will carefully assess Ancora’s proposal in consultation with its financial and legal advisers.

Source: HB Fuller Company