NEW YORK (AP) — U.S. Silica has agreed to go private in an all-cash acquisition by Apollo Global Management that values the industrial minerals company at about $1.85 billion.
In a Friday announcement, U.S. Silica said that shareholders would receive $15.50 in cash for each share owned as of the deal’s closing. Once the deal closes, U.S. Silica’s stock will no longer be listed on the New York Stock Exchange.
Founded in the late 1800s, U.S. Silica produces commercial silica used in the oil and gas industry and other industrial applications. It operates 26 mines and processing facilities and two additional exploration stage properties. The Kathy, Texas-based company is still set to operate under the U.S. Silica name and brand, and will continue to be led by its current CEO Bryan Shinn. In a prepared statement, Shinn said that partnering with Apollo will give U.S. Silica “significant resources, deep industry expertise and enhanced flexibility as a private company.”
Related articles:
Related suggestion:
'Obsessed' exRemote Lake Superior island wolf numbers are stable but moose population declining, researchers sayBrowns pick up 5Jaguars cut WR Zay Jones, clearing a path to potentially sign fiveAlicia Keys, Brian d’Arcy James, Daniel Radcliffe and more react to earning Tony Award nominationsIran commutes a tycoon's death sentence to 20 years in prisonAlicia Keys, Brian d’Arcy James, Daniel Radcliffe and more react to earning Tony Award nominationsFamily appeals ruling that threw out lawsuit over 2017 BIA shooting death in North DakotaG7 nations commit to phasing out coal by 2035 but give Japan some flexibilityDerrick White scores 38, Celtics top Heat 102
0.2228s , 6491.1875 kb
Copyright © 2024 Powered by US Silica agrees to go private in $1.85 billion acquisition by Apollo Global ,International Investigation news portal