“Advanced Medical Solutions has built an exceptional business as a differentiated formulator with an innovation-led platform, an outstanding product suite, impressive R&D capabilities, and a global commercial footprint with supporting regulatory expertise. The transaction is expected to result in significant revenue and cost synergies, and accelerate our transformation into a higher-growth, higher-margin business. We remain committed to disciplined and balanced capital allocation and believe that the continued up-tiering of our portfolio, as well as the other steps we are taking to improve our cost structure and cash flow profile, will allow for robust de-leveraging post-acquisition."

In May of this year, Ancora Holdings, an activist investor owning more than 2% of H.B. Fuller stock, publicly opposed the potential acquisition. It argued that the deal conflicts with H.B. Fuller’s recent commitment to “pause on closing deals in the near term.”