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
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
A team of shocked medics removed 150 maggots from a woman's mouth that had appeared after a dental p2024-05-21National Fitness Day: Equestrian
By Ebulavi (People's Daily Online) 09:26, August 09, 2023Mahashate Ye'erbole, an obstacle course in2024-05-21ECB leaves interest rates unchanged
FRANKFURT, April 11 (Xinhua) -- The European Central Bank (ECB) on Thursday decided to leave key int2024-05-21FISU Games torch relay highlights global youths' determination to chase dreams
By Yao Youming, Chen Di and Wang Junbao (Xinhua) 13:31, July 28, 2023CHENGDU, July 28 (Xinhua) -- Th2024-05-21Messi in and Dybala out in Argentina squad for pre
BUENOS AIRES, Argentina (AP) — Lionel Messi is in and Paulo Dybala is out of Argentina’s squad for f2024-05-21Final survivor of USS Arizona after Pearl Harbor attack dies at 102
LOS ANGELES, April 1 (Xinhua) -- Lou Conter, the final survivor of the USS Arizona, the battleship t2024-05-21
atest comment