Ferro Corporation (NYSE: FOE), a leading global supplier of technology-based functional coatings and color solutions, announced that the previously announced acquisition of Ferro by Prince International Corporation has been completed.
Under the terms of the transaction, Ferro shareholders are entitled to receive $22.00 in cash, without interest and less any applicable withholding taxes, for each share of Ferro common stock that they own immediately prior to the completion of the merger. As a result of the completion of the acquisition, Ferro’s common stock will cease trading on the NYSE.
In conjunction with the transaction closing, Prince will combine with Chromaflo Technologies Corporation, a premier global provider of colorant technology solutions. The combined companies will be rebranded as Vibrantz Technologies Inc., a leading global, diversified technology leader in color solutions, performance coatings and advanced materials with sales of more than $2 billion.
