Columbia-based W. R. Grace & Co. confirmed that it has received a revised proposal from 40 North Management to acquire all outstanding shares of Grace for $65 per share in cash, subject to certain conditions.

The Grace Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and evaluate the proposal to determine the course of action it believes is in the best interest of the company and its shareholders. As part of this review, the board will consider the proposal in the context of the corporation’s ongoing review of potential strategic alternatives to maximize shareholder value.