Ancora Holdings Group condemned H.B. Fuller’s decision to proceed with the acquisition of Advanced Medical Solutions despite shareholder opposition. Ancora stated that the Board and management chose entrenchment over value creation, noting that leadership had publicly committed to focusing on share repurchases and deleveraging only about 90 days ago. The activist investor criticized the timing of the acquisition announcement, which was issued at 2:10 AM Eastern Daylight Time, and argued that the deal benefits AMS shareholders at the expense of H.B. Fuller’s long-suffering investors. Ancora intends to hold the Board and management accountable and remains focused on realizing the value of H.B. Fuller.
H B Fuller CompanyAncora criticizes the acquisition as value-destructive and contrary to prior commitment to buybacks and deleveraging.
Advanced Medical Solutions Group plcThe acquisition benefits AMS shareholders at the expense of H.B. Fuller's investors.