Ferro Corporation to Be Acquired by Prince International Corporation for $22.00 Per Share in $2.1 Billion All-cash Transaction; Reports First Quarter Results
Ferro Corporation (NYSE: FOE) (the Company), a leading global supplier of technology-based functional coatings and color solutions, today announced it has entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately
First Quarter Continuing Operations *:
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Net Sales increased |
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Net Sales increased |
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Gross Profit increased |
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Adjusted Gross Profit increased |
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GAAP diluted EPS increased |
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Adjusted diluted EPS increased |
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Income from continuing operations increased |
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Adjusted EBITDA increased |
As a result of the pending transaction, Ferro will not hold its first quarter 2021 earnings teleconference that was scheduled for 8:00 a.m. Eastern Time on Tuesday May 11, 2021.
*Comparative information is relative to prior-year first quarter Continuing Operations.
About Ferro Corporation – Ferro Corporation (www.ferro.com) is a leading global supplier of technology-based functional coatings and color solutions. Ferro supplies functional coatings for glass, metal, ceramic and other substrates and color solutions in the form of specialty pigments and colorants for a broad range of industries and applications. Ferro products are sold into the building and construction, automotive, electronics, industrial products, household furnishings and appliance markets. The Company’s reportable segments include: Functional Coatings and Color Solutions. Headquartered in Mayfield Heights, Ohio, the Company has approximately 3,700 associates globally and reported 2020 sales of
Conference Call - Canceled
Ferro will not hold its previously scheduled first quarter 2021 earnings teleconference at 8:00 a.m. EDT Tuesday May 11, 2021.
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