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.”
After Barstool Sports sponsorship fizzles, Snoop Dogg brand is attached to Arizona Bowl, fo shizzle
Dalai Lama’s sister receives award for educating Tibetans in exile — Radio Free Asia
American Express, Fifth Third rise; Netflix, PPG Industries fall, Friday, 4/18/2024
Experts on Taylor Swift’s poetry in ‘The Tortured Poets Department'
Paedophile hunter reveals he caught his wife's cousin trying to meet up with children online
The prosecution team in Alec Baldwin's 'Rust' trial has a new attorney
The Florida Panthers are weird. And coach Paul Maurice says that as a compliment
Religious leader faces new charge in case that brought 5
I was sent an explicit photo by a stranger on my birthday so I took hilarious revenge on him
Georgia gymnastics coach Courtney Kupets Carter is fired after 7 seasons, no NCAA titles
Human remains were found at a former Hitler base, but decay prevents determining the cause of death
History with Maple Leafs could help Bruins snap short playoff slump