COLUMBIA, Md., April 01, 2021 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE: GRA) delivered the following letter to 40 North Management LLC in response to its letter this morning:

April 1, 2021

David Winter and David Millstone
40 North Management LLC
9 West 57th Street, 47th Fl.
New York, NY 10019

David and David –

Our Board will review the letter you sent us this morning in a timely manner.

In that regard, in order for us to complete this review, please forward to us promptly the additional customary information we requested in our bid instruction letter of March 25, 2021. This includes, in particular, the details of your debt and equity financing commitments, as well as comments on the transaction documents that we sent to you previously. As we indicated in the bid instruction letter, if you have questions about any of the items we have mentioned, our legal and financial advisors remain available to discuss.

We look forward to hearing from you.

Sincerely,

/s/ Hudson La Force
Hudson La Force
President and Chief Executive Officer

Goldman Sachs & Co. LLC and Moelis & Company LLC are serving as financial advisors and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Grace.

About Grace
Built on talent, technology, and trust, Grace is a leading global specialty chemical company. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 4,000 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.

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