XES - Why Industrial Minerals Company U.S. Silica Shares Are Rocketing Today | Benzinga
U.S. Silica Holdings, Inc. (NYSE:SLCA) shares are trading higher after the company inked a deal to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) for around $1.85 billion.
M&A Deal: As per the deal, U.S. Silica shareholders will receive $15.50 per share in cash for each share they own, representing an 18.7% premium to its closing share price as of $13.06 on April 25 and a 33.0% premium to 90-day volume-weighted average share price for the period ended April 25.
The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. The agreement includes ...