H.B. Fuller (FUL) said Monday its board unanimously rejected Ancora's second bid to acquire its Building Adhesive Solutions business for between $1.2 billion to $1.4 billion, citing insufficient value and "highly conditional" terms.
The company cited the segment's organic growth, strategic importance to its broader business and potential upside from its Project Quantum Leap as reasons for rejecting the offer.
H.B. Fuller plans to review select non-core businesses for potential sale to reduce debt, with the process expected to conclude by year-end 2026, the company said.
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