{"id":491057,"date":"2021-05-11T07:48:20","date_gmt":"2021-05-11T11:48:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/"},"modified":"2021-05-11T07:48:20","modified_gmt":"2021-05-11T11:48:20","slug":"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","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/","title":{"rendered":"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"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignt { vertical-align: top }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Ferro Corporation to Be Acquired by Prince International Corporation for $22.00 Per Share in $2.1 Billion All-cash Transaction; <\/b><b>Reports First Quarter Results<\/b><\/p>\n<p>CLEVELAND&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFerro 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 $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of Ferro for $22.00 per share in cash. The purchase price represents a 25.1% premium to the closing stock price on May 10, 2021 of $17.58 per share and a 33.8% premium to the 90-day volume-weighted average price.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210511005674\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210511005674\/en\/<\/a><\/p>\n<p><b>First Quarter Continuing Operations<sup> *<\/sup>:<\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0 bwpadr0 bwvertalignt bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Sales increased 14.3% to $288.4M\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Sales increased 10.2% on a constant currency basis\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGross Profit increased 17.8% to $95.1M, Gross Profit Margin improved 100 bps to 33.0%\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted Gross Profit increased 14.7% to $97.3M, Adjusted Gross Profit Margin improved 130 bps to 33.7%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGAAP diluted EPS increased 15.8% to $0.22\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted diluted EPS increased 42.3% to $0.37\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome from continuing operations increased 16.6% to $18.6M\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u2022\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA increased 41.8% to $57.8M, Adjusted EBITDA Margin improved 390 bps to 20.0%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nAs 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.\n<\/p>\n<p><i>*Comparative information is relative to prior-year first quarter Continuing Operations.<\/i><\/p>\n<p><b>About Ferro Corporation<\/b> \u2013 Ferro Corporation (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ferro.com&amp;esheet=52427227&amp;newsitemid=20210511005674&amp;lan=en-US&amp;anchor=www.ferro.com&amp;index=1&amp;md5=47f4fd3d8a3c56a452c9201cb4d77a0a\">www.ferro.com<\/a>) 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\u2019s 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 $959 million.\n<\/p>\n<p><b>Conference Call &#8211; Canceled<\/b><\/p>\n<p>\nFerro will not hold its previously scheduled first quarter 2021 earnings teleconference at 8:00 a.m. EDT Tuesday May 11, 2021.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210511005674\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210511005674\/en\/<\/a><\/span><\/p>\n<p><b>Investors:<br \/>\n<\/b><br \/>Kevin Cornelius Grant, 216.875.5451<br \/>\n<br \/>Director of Investor Relations and Corporate Communications<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:kevincornelius.grant@ferro.com\">kevincornelius.grant@ferro.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Ohio United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Home Goods Manufacturing Retail Automotive Other Technology Hardware Building Systems Other Construction &amp; Property Architecture Consumer Electronics Residential Building &amp; Real Estate Technology Commercial Building &amp; Real Estate Construction &amp; Property Other Automotive General Automotive Engineering Chemicals\/Plastics<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210511005674\/en\/493468\/3\/FERRO_CMYK.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>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 CLEVELAND&#8211;(BUSINESS WIRE)&#8211; 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 $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/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\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;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&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-491057","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>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 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/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\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"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 CLEVELAND&#8211;(BUSINESS WIRE)&#8211; 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 $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of &hellip; Continue reading &quot;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&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/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\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-11T11:48:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"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\",\"datePublished\":\"2021-05-11T11:48:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/\"},\"wordCount\":482,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/\",\"name\":\"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 - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"datePublished\":\"2021-05-11T11:48:20+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"contentUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/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\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"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\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"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 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/","og_locale":"en_US","og_type":"article","og_title":"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 - Market Newsdesk","og_description":"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 CLEVELAND&#8211;(BUSINESS WIRE)&#8211; 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 $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of &hellip; Continue reading \"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\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/","og_site_name":"Market Newsdesk","article_published_time":"2021-05-11T11:48:20+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"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","datePublished":"2021-05-11T11:48:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/"},"wordCount":482,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/","name":"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 - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","datePublished":"2021-05-11T11:48:20+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/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\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#primaryimage","url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","contentUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210511005674r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/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\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"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"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/491057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=491057"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/491057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=491057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=491057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=491057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}