(20)	Subsequent Event

On February 11, 2014, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Imerys SA, a corporation organized under the laws of France (“Imerys”), and Imerys Minerals Delaware, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Imerys (“Purchaser”). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Purchaser will commence a cash tender offer (the “Offer”) to acquire all of the outstanding shares of our common stock (the “Shares”), at a purchase price of $41.00 per Share, net to the seller in cash, without interest.

The obligation of the Purchaser to complete the Offer is subject to certain terms and conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Completion of the Offer is not subject to any financing condition. The Merger Agreement includes customary representations, warranties and covenants of AMCOL, Imerys and Purchaser.

Pursuant to the Merger Agreement, as soon as practicable following the completion of the Offer, and subject to the satisfaction or waiver of the remaining conditions set forth in the Merger Agreement, Purchaser will be merged with and into AMCOL, with AMCOL continuing as the surviving corporation and an indirect wholly owned subsidiary of Imerys, pursuant to the procedure provided for under Section 251(h) of the Delaware General Corporation Law without any additional approval of AMCOL’s stockholders (the “Merger”).

AMCOL has agreed to operate its business in the ordinary course consistent with past practices until the effective time of the Merger, subject to customary exceptions. AMCOL has also agreed to certain restrictions, subject to certain exceptions described in the Merger Agreement, on its ability to solicit, initiate or encourage discussions with third parties regarding other proposals to acquire AMCOL.

On February 24, 2014, AMCOL received an unsolicited proposal from Minerals Technologies, Inc. ("MTI") to acquire all of AMCOL's outstanding Shares at a price per Share of $42.50 in cash (the "MTI Proposal"). The MTI Proposal included a draft merger agreement and financing commitment letter. The draft merger agreement provided that MTI could terminate the merger agreement if financing is unavailable to consummate the acquisition. In such a circumstance, MTI would be obligated to pay AMCOL a $70 million reverse termination fee, but AMCOL would not have a right of seek specific performance to require MTI to complete the transaction.

On February 26, 2014, in response to the MTI Proposal, Imerys proposed to amend the Merger Agreement to increase the price to be paid in the Offer to $42.75 per Share, but otherwise leave all other terms of the Merger Agreement in place (the "Merger Agreement Amendment"). After comparing the relative merits of the MTI Proposal and the Merger Agreement Amendment during a meeting held in the afternoon of February 26, 2014, the AMCOL Board determined that the MTI Proposal was not superior to the Merger Agreement Amendment, found the Merger Agreement Amendment to be fair to and in the best interests of AMCOL stockholders and approved the Merger Agreement Amendment. Later on February 26, 2014, AMCOL, Imerys and Purchaser executed the Merger Agreement Amendment.