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
Norris beats Verstappen for maiden F1 victory
McLaren's Lando Norris took advantage of a mid-race Safety Car period to beat Max Verstappen and2024-05-09Celine Dion reveals she wore a coat for 'nerve
Celine Dion revealed the reason why she decided to wear a coat while making a surprise appearance at2024-05-09Heartbreaking pictures show 24
A cancer patient from Atlanta, Georgia has fulfilled his dying wish of marrying his fiancée after he2024-05-09Moment Susanna Reid apologises as Labour MP Yvette Cooper swears on Good Morning Britain
Susanna Reid was forced to apologise to viewers after Labour MP Yvette Cooper swore live on Good Mor2024-05-09Too much water, and not enough: Brazil's flooded south struggles to find basic goods
TORRES, Brazil (AP) — A mayor in southern Brazil asked residents to ration water Tuesday in a state2024-05-09Look what you made me do! Taylor Swift famously uses her mega
When a billionaire music megastar suggests you join her somewhere 'where we can be alone' - you shou2024-05-09
atest comment