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A10 Networks will replace Ferro Corp in the S&P SmallCap 600, effective April 26, 2022. This change follows Ferro's acquisition by Prince International Corp., closing the same day. A10 Networks (ATEN) operates in the Information Technology sector, likely benefiting from increased visibility and investment opportunities within the index.
Ferro Corporation (NYSE: FOE) has completed its acquisition by Prince International Corporation. Ferro shareholders will receive $22.00 in cash per share, leading to the cessation of Ferro's common stock trading on the NYSE. Following the acquisition, Prince will merge with Chromaflo Technologies Corporation, resulting in the formation of Vibrantz Technologies Inc., a global leader in color solutions and performance coatings with sales exceeding $2 billion.
Ferro Corporation reported its fourth quarter results with net sales rising 2.5% to
Ferro Corporation (NYSE: FOE) reported strong financial results for the third quarter of the year, with net sales rising 43.7% to
Ferro Corporation (NYSE: FOE) shareholders have overwhelmingly approved the acquisition by an affiliate of Prince International Corporation. Each Ferro share will be exchanged for $22.00 in cash, subject to regulatory approvals and conditions. The merger, expected to close in Q1 2022, will see Ferro as a wholly owned subsidiary of Prince. With 2020 sales of $959 million, Ferro specializes in technology-based coatings and color solutions across various industries.
Ferro Corporation (NYSE: FOE), a global leader in technology-based functional coatings and color solutions, reported sales of $959 million in 2020. The company operates in sectors including building and construction, automotive, electronics, and household furnishings. With a workforce of approximately 3,600 associates, Ferro specializes in providing functional coatings for various substrates and offers specialty pigments and colorants for diverse applications. The company is headquartered in Mayfield Heights, Ohio, and categorizes its operations into two segments: Functional Coatings and Color Solutions.
Ferro Corporation (NYSE: FOE) has entered into an acquisition agreement with Prince International Corporation for approximately $2.1 billion, translating to $22.00 per share. This purchase price represents a 25.1% premium over the stock's closing price on May 10, 2021. Ferro reported a first quarter sales increase of 14.3% to $288.4 million, with a gross profit rise of 17.8% to $95.1 million. The company will not hold its scheduled earnings teleconference due to the pending transaction.
Ferro Corporation (NYSE: FOE) announced its first quarter 2021 conference call scheduled for May 11, 2021, at 8:00 a.m. Eastern Time. The call will feature key company executives, including Peter Thomas, the CEO. For attendees, dial-in registration is available via provided U.S./Canada and international numbers, with a replay accessible from May 11 to May 18. A webcast can be accessed through Ferro’s investor website, with presentation materials and podcasts available for further insight.
