H.B. Fuller Receives Proposal for $1.1 Billion Building Adhesive Acquisition

© H.B. Fuller

H.B. Fuller, the world’s largest pure-play adhesives company, confirmed receipt of an unsolicited proposal from Ancora Holdings to acquire its Building Adhesives Solutions (BAS) business for between $1.1 billion and $1.2 billion in cash.

Although Ancora previously expressed a passing verbal interest in BAS, the letter received, coinciding with the news being made public, represents the first offer Ancora has made for the business.

H.B. Fuller's management team and Board of Directors are said to review the company's portfolio to maximize shareholder value regularly, and the Board is now expected to carefully evaluate the proposal in consultation with its financial and legal advisors.