H.B. Fuller Company (NYSE: FUL) issued a statement addressing shareholder engagement and its strategic direction, according to a press release from the adhesives manufacturer.

The company said its board and management team value feedback from all shareholders and regularly engage with diverse perspectives, including those shared by shareholder Ancora.

H.B. Fuller reported executing 13 acquisitions since the beginning of 2023, which the company said resulted in adjusted EBITDA growth and margin expansion through synergy capture. The company cited its U.K. operations as an example, where four business acquisitions since 2022 representing $30 million of acquired adjusted EBITDA with approximately 13% margins grew to more than $60 million in adjusted EBITDA with more than 23% margins over three years.

The company stated it has been reducing its debt burden, with net debt to adjusted EBITDA ratio declining to 3.1x at the end of the first quarter from 3.5x in the same period last year.

H.B. Fuller disclosed it is engaged in discussions with Advanced Medical Solutions Group plc (AMS) but noted there is no certainty that a binding offer will be made. The disclosure was required by the U.K. Takeover Code, the company said.

The company targets greater than 20% adjusted EBITDA margins, low-teens return on invested capital and strong cash flow conversion as part of its strategy to reposition as a specialty adhesives player focused on faster growth and higher margins.

H.B. Fuller reported 2025 revenue of $3.5 billion and employs more than 7,100 people globally, serving customers across more than 30 market segments in 150 countries.