On January 11, 2021, 40 North Management LLC sent a letter to the Board of Directors of W.R. Grace & Co. increasing its offer to acquire all of the outstanding shares of common stock for $65 per share in cash. 40 North Management stated that the offer represents a 62% premium over the Company’s closing share price on October 13, 2020, the day prior to 40 North Management filing a Schedule 13D/A with the Securities and Exchange Commission disclosing the resignation of 40 North Management representative from the Company Board of Directors.