09 April 2013 22:48 [Source: ICIS news]
HOUSTON (ICIS)--Ferro's upcoming annual meeting is the next key event in A Schulman's hostile bid to take over the company, the CEO of the US-based compounder said on Tuesday.
Ferro's shareholders will vote on board members during the company's annual meeting, which takes place on 15 May, said Joseph Gingo, the CEO of A Schulman.
Gingo made his comments during his company's earnings conference call.
Ferro rejected A Schulman's previous bid without negotiating the price or the structure of the deal, Gingo said.
However, if new members are elected, they may persuade the board to discuss the bid with A Schulman and consider it further – even though they felt that the offer was too low, Gingo said. "So my hope is just to get in the door."
Ferro did not immediately respond to a request for comment.
($1 = €0.77)
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