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
Former head of one of China's top state
BEIJING (AP) — A Chinese court sentenced the former head of one of the country’s three major state-o2024-05-0812 killed in boat capsize accident in North China; boat owner detained
(Global Times) 10:58, April 15, 2024Photo: China Central TelevisionA total of 12 passengers were kil2024-05-08Lithuania's Mykolas Alekna breaks discus throw record that stood since 1986
RAMONA, Okla. (AP) — Mykolas Alekna of Lithuania broke a world record in the discus throw that had s2024-05-08- (People's Daily Online) 11:20, July 18, 2023With the Chengdu 2021 FISU World University Games just a2024-05-08
- When Donald Trump arrived in a Manhattan courtroom last month to stand trial in the first-ever crimi2024-05-08
Hun Sen defends Cambodian canal project, rejects outside slander
People should not slander Cambodia in order to oppose China in accordance with their geopolitical st2024-05-08
atest comment