H.B. Fuller Company (NYSE: FUL) confirmed it received an unsolicited proposal from Ancora Holdings Group to acquire its Building Adhesive Solutions segment for between $1.1 billion and $1.2 billion in cash, according to a company statement.

H.B. Fuller said the letter arrived simultaneously with the offer being made public, and that while Ancora had previously expressed verbal interest in the unit, the letter represents the first formal offer made for the business.

The company's Board of Directors said it will evaluate the proposal with the assistance of financial and legal advisors. H.B. Fuller noted that its management team and board regularly review the company's portfolio.

H.B. Fuller, founded in 1887 and headquartered in St. Paul, Minn., reported 2025 revenue of $3.5 billion and employs more than 7,100 people across 150 countries.