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Minerals Technologies Inc. (MTI) says it has abandoned its attempt to acquire the British specialty chemical firm Elementis after its third offer was rejected. MTI first offered $1.41 per share, a 31% premium over Elementis’s Nov. 4 share price. In its third attempt, MTI bid $1.76 per share. Under UK law, MTI had until Dec. 10 to make a formal offer, but it says it would not do so. The firm can make a new offer if a third party attempts to buy Elementis.
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