$987-million deal consolidates ceramics suppliers
Shareholders of the Cookson Group have endorsed the company’s estimated $987-million takeover of Foseco PLC. The merger, announced late last year, gained anti-trust clearance from the U.S. Dept. of Justice and European Commission earlier this month.
Cookson manufactures and supplies industrial ceramics (including the Vesuvius line of molten-metal filtration products), as well as surface-treatment and plating chemicals, and fabricated precious metals.
Foseco produces a range of consumables for the foundry and steel industries, including molten-metal conditioning, filtration, and flow-control products. Its foundry product lines include feeding systems, filters, metal treatments, inoculants, fluxes, and sand binders.
Cookson states it expects the takeover to be complete in early April.