US Silica agrees to go private in $1.85 billion acquisition by Apollo Global
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
Arrested US soldier awaiting hearing in Russia on theft charges
WASHINGTON (AP) — The U.S. Army soldier arrested in Russia last week is being held in a pretrial det2024-05-08Moment Home Office cops kick down door in dawn raid to smash 'sophisticated' people
Home Office cops smashed down doors across the country yesterday amid an 'arms race' against people2024-05-08UK's Prince William returns to public duties for first time since Kate's cancer diagnosis
LONDON (AP) — Prince William returns to public duties on Thursday for the first time since his wife’2024-05-08PSG dreaming of club treble as another French league title beckons
PARIS (AP) — Paris Saint-Germain remains on course for a historic club treble after reaching the Cha2024-05-08Zelensky 'assassination plot foiled' as Ukraine detains two of its own counter
A plot to assassinate Ukrainian President Volodymyr Zelensky has been 'foiled', according to the Sec2024-05-08Genius iPhone hack will save you so much time when traveling
With nearly every airline asking you to download their own app and delays plaguing most airports, yo2024-05-08
atest comment