Recent Updates — FUL

H.B. Fuller Company completed the private offering of $850 million aggregate principal amount of its 7.625% Notes due 2034 on October 21, 2026. The senior unsecured obligations bear interest payable semi-annually and mature on October 15, 2034. Proceeds are intended to finance the cash consideration for the pending acquisition of Advanced Medical Solutions Group plc. Concurrently, the company terminated its $917 million Unsecured Bridge Credit Agreement, which had no outstanding loans at termination. H.B. Fuller Company manufactures and markets adhesives, sealants, and functional coatings.

The Board of Directors unanimously rejected Ancora Holdings Group LLC’s second unsolicited, non-binding proposal to acquire the Building Adhesive Solutions business for between $1.2 billion and $1.4 billion in cash. The Board determined the modest price increase did not adequately capture the segment's value and growth potential. Consequently, H.B. Fuller will conduct a market check involving select market segments and product lines less integral to its portfolio, with proceeds intended for deleveraging. The company expects to complete this process by year-end 2026. H.B. Fuller is the world’s largest pureplay adhesives company.

H.B. Fuller Company priced an offering of $850 million aggregate principal amount of 7.625% new senior unsecured notes due 2034 at par in a private placement exempt from registration requirements under Rule 144A and Regulation S. The issuance is expected to close on or about October 21, 2026, subject to customary closing conditions. Net proceeds will fund the acquisition of Advanced Medical Solutions Group plc, repay other borrowings, redeem existing notes due in 2027, and for general corporate purposes. If the acquisition does not close by June 25, 2027, or is terminated, H.B. Fuller must redeem $450 million of the notes at par plus accrued interest. The company operates as a global manufacturer of adhesives, coatings, sealants, and functional materials.

H.B. Fuller Company commenced a private offering of $950 million aggregate principal amount of new senior unsecured notes due 2034, subject to customary conditions. The company intends to use the proceeds, along with other available cash and borrowings, to fund the purchase price for the acquisition of Advanced Medical Solutions Group plc (AMS), repay existing credit agreement borrowings, redeem its 4.000% notes due February 15, 2027, and for general corporate purposes. If the AMS acquisition is not consummated by June 25, 2027, or if the cooperation agreement is terminated, H.B. Fuller must redeem $450 million of the notes at par plus accrued interest. The filing includes unaudited pro forma financial information combining H.B. Fuller and AMS results.

H.B. Fuller Company announced the immediate resignation of director Ruth S. Kimmelshue and the election of R. Jeffrey Bailly to its Board of Directors, effective September 23, 2026. Mr. Bailly, age 64, joins from UFP Technologies, where he served as Executive Chairman and previously CEO for over three decades, bringing expertise in medical technology, manufacturing transformation, and M&A. He will serve on the Audit and Compensation Committees and receives an annual cash retainer of $100,000 plus an initial grant of 1,300 restricted stock units. Ms. Kimmelshue’s departure follows nine years of service and is not due to any disagreement with company operations. H.B. Fuller operates in the adhesives, coatings, and sealants industry.

H.B. Fuller Company reported third-quarter fiscal 2026 results ending August 29, 2026, with net revenue of $938 million, a 5.2% year-on-year increase driven by pricing that offset lower volume. Net income was $79 million, while adjusted EBITDA reached $187 million, up 9%, resulting in an adjusted diluted EPS of $1.52, a 21% increase. The company updated its full-year fiscal 2026 guidance, raising the adjusted EBITDA range to $655–$670 million and adjusted EPS to $4.70–$4.85. Management cited pricing execution and restructuring savings for margin expansion, noting net debt-to-adjusted EBITDA improved to 3.0x. H.B. Fuller operates in the adhesives, coatings, and sealants industry.