Benzinga | Jan 11, 2021 08:17AM EST

40 North Increases Offer For W.R. Grace To $65/Share

40 North Management LLC ("40 North") today sent a letter to the Board of Directors of W.R. Grace & Co (NYSE:GRA) ("Grace" or the "Company") increasing its offer to acquire all of the outstanding shares of common stock for $65 per share in cash. The offer represents a 62% premium over Grace's closing share price on October 13, 2020, the day prior to 40 North filing a Schedule 13D/A with the Securities and Exchange Commission disclosing the resignation of the 40 North representative from the Grace Board of Directors.