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:
Xi Jinping Visits Ancient Shudao in China's SichuanMiddle East nations to enhance tourism ties with ChinaChina's women's football team reach Tokyo Olympics with extraChina's theme parks increase in revenue and developmentVisa waiver to boost tourism in MalaysiaNew railway set to bolster connectivity, developmentXi Meets Burundian PresidentChina nets gold in men's synchro 3m springboardXi to Attend Opening Ceremony of Chengdu UniversiadeMore young Chinese people becoming fans of extreme sports
4.0595s , 4667.3046875 kb
Copyright © 2024 Powered by US Silica agrees to go private in $1.85 billion acquisition by Apollo Global ,Cultural Current news portal