Ancora raises offer for H.B. Fuller's adhesive unit to up to $1.4 billion, Bloomberg News reports

H.B. Fuller

29/09/2026 13:00

Sept 29 (Reuters) - Activist investor Ancora Holdings is now offering to pay as much as $1.4 billion in cash for H.B. Fuller's FUL.N Building Adhesive Solutions business, Bloomberg News reported on Tuesday.
Ancora is willing to pay $1.2 billion to $1.4 billion for the unit, increasing the upper end of its earlier proposal by $200 million, Bloomberg News reported, citing sources familiar with the matter
Last month, Ancora made a $1.2 billion offer, which H.B. Fuller rejected arguing that the bid significantly undervalued the unit, its growth prospects and lacked key ​details regarding the investment firm's ability to execute the deal
Ancora had criticized H.B. Fuller's rejection, saying it strengthened its ⁠case ​for board changes and claimed there ​was interest from other ​parties in both the segment and the entire company 
At the time of the previous offer, the activist investor had also been considering a proxy fight to ​gain control of the chemical company's board, a source familiar with ⁠the matter told Reuters in August
Activist investors have been pushing companies to sell their entire business or parts of it as dealmaking surges, heaping pressure on boards and management teams. Ancora had also pushed chemical maker Ashland ASH.N to ​pursue a sale

 (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Diti Pujara)
 ((Aatreyee.Dasgupta@thomsonreuters.com;))