US Silica agrees to go private in $1.85 billion acquisition by Apollo Global
Time:2024-05-22 11:08:43 Source:businessViews(143)
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.”
Previous:Russia begins nuclear drills in an apparent warning to West over Ukraine
Next:Georgia QB Jaden Rashada sues Florida coach, others over failed $14M NIL deal
You may also like
- Singapore Airlines: 1 dead, others injured after London
- Maurizio Cattalan, Zoe Soldana collaborate in iconoclastic Vatican exhibition inside women’s prison
- Kraken outlast Wild 4
- Ukraine starts building 2 modern units at Khmelnytskyi nuclear plant
- Rajasthan Royals launch ANOTHER bid to invest in cash
- Stock market today: Japan’s Nikkei leads Asian market retreat as Middle East tensions flare
- Chinese navy is operating out of Cambodia's Ream base: US think tank — Radio Free Asia
- Brazil's president calls for IMF reform to reflect today's world
- Bell's RBI single in 10th lifts Marlins to 3