Speciality chemicals produced by Elementis are used to make products such as cosmetics and carsElementis, the chemicals group, has rebuffed a third takeover approach from an American suitor. Last night the FTSE 250 business said that the £750 million bid from Minerals Technologies “significantly undervalued” the company and its “future prospects”. The offer of 130p per share, which Elementis said was “opportunistic”, comes less than a fortnight after it tabled a bid of 117p. Minerals Technologies made its first approach last month, offering shareholders 107p. The company mines and produces speciality chemicals such as talc, chromium and hectorite used in industries ranging from cosmetics to automotives.

Source: The Times December 07, 2020 00:11 UTC