Ferro Corp. Confirms Receipt, Rejection of Unsolicited Bid from Schulman, Says Holders Should Take No Action

Ferro Corporation

today confirmed that its Board of Directors had previously received and rejected an unsolicited proposal from A. Schulman, Inc.

to acquire all of the outstanding shares of Ferro common stock for $6.50 per share in cash and stock. Ferro's Board of Directors, in consultation with financial and legal advisors, unanimously determined that the A. Schulman proposal is not in the best interests of Ferro shareholders and that continued execution of the Company's value creation strategy will deliver greater value to Ferro shareholders. Ferro advises shareholders to take no action at this time. Goldman, Sachs & Co. is serving as Ferro's financial advisor, and Jones Day is serving as its legal advisor.