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Seaport Global Securities downgraded Ferro from Buy to Neutral
Gabelli & Co. downgraded Ferro from Buy to Sell
Deutsche Bank downgraded Ferro from Buy to Hold and set a new price target of $22.00
Aims to Install an Independent Slate and Legendary CEO Committed to Abandoning the Blocked Nippon Deal, Collecting the $565 Million Breakup Fee and Making U.S. Steel Great Again in the Public Market Believes the Board's Decision to Pursue a Risky Sale to Nippon – an Overseas Bidder Paying Just $1 Per Share More Than the Top Domestic Bidder – Has Led to a Dead End Contends the Board and CEO David Burritt, Who Collectively Stood to Receive $100+ Million if the Sale Proceeded, Prioritized Deal Advocacy at the Expense of Financial Health and Operational Performance Expresses Concern About the Board and Mr. Burritt Continuing to Devote Immense Resources to Litigation Despite Legal Headwind
NEW YORK, April 21, 2022 /PRNewswire/ -- A10 Networks Inc. (NYSE:ATEN) will replace Ferro Corp. (NYSE:FOE) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, April 26. Prince International Corp., a portfolio company of American Securities LLC, has acquired Ferro in a transaction that closed today. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector April 26, 2022 S&P SmallCap 600 Addition A10 Networks ATEN Information Technology S&P SmallCap 600 Deletion Ferro Corp FOE Materials For more information about S&P Dow Jones Indices, please v
Ferro Corporation (NYSE:FOE) ("Ferro"), a leading global supplier of technology-based functional coatings and color solutions, today announced that the previously announced acquisition of Ferro by Prince International Corporation ("Prince") 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 Chroma
15-12B - FERRO CORP (0000035214) (Filer)
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S-8 POS - FERRO CORP (0000035214) (Filer)
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Aims to Install an Independent Slate and Legendary CEO Committed to Abandoning the Blocked Nippon Deal, Collecting the $565 Million Breakup Fee and Making U.S. Steel Great Again in the Public Market Believes the Board's Decision to Pursue a Risky Sale to Nippon – an Overseas Bidder Paying Just $1 Per Share More Than the Top Domestic Bidder – Has Led to a Dead End Contends the Board and CEO David Burritt, Who Collectively Stood to Receive $100+ Million if the Sale Proceeded, Prioritized Deal Advocacy at the Expense of Financial Health and Operational Performance Expresses Concern About the Board and Mr. Burritt Continuing to Devote Immense Resources to Litigation Despite Legal Headwind