U.S. Silica To Be Acquired For $15.50 Per Share; Positive For Smaller Peer Smart Sand

seekingalpha04-26

U.S. Silica is to be acquired by Apollo Funds for $1.85 billion in cash or $15.50 per share.Deals in the "sand space" are rare, but this is the second one in 2024.Positive impact is expected for SND ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2430204121?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1410112518/image_1410112518.jpg","is_english":true,"pubTime":"2024-04-26 23:27","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2430204121","market":"sh","top_or_hot":-1,"title":"U.S. Silica To Be Acquired For $15.50 Per Share; Positive For Smaller Peer Smart Sand","media":"seekingalpha","content":"<div>\n<p>U.S. Silica is to be acquired by Apollo Funds for $1.85 billion in cash or $15.50 per share.Deals in the \"sand space\" are rare, but this is the second one in 2024.Positive impact is expected for SND ...</p>\n\n<a href=\"https://seekingalpha.com/article/4686680-us-silica-to-be-acquired-for-15-50-per-share-positive-for-smaller-peer-smart-sand\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Silica To Be Acquired For $15.50 Per Share; Positive For Smaller Peer Smart Sand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Silica To Be Acquired For $15.50 Per Share; Positive For Smaller Peer Smart Sand\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 23:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4686680-us-silica-to-be-acquired-for-15-50-per-share-positive-for-smaller-peer-smart-sand><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. Silica is to be acquired by Apollo Funds for $1.85 billion in cash or $15.50 per share.Deals in the \"sand space\" are rare, but this is the second one in 2024.Positive impact is expected for SND ...</p>\n\n<a href=\"https://seekingalpha.com/article/4686680-us-silica-to-be-acquired-for-15-50-per-share-positive-for-smaller-peer-smart-sand\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EQT.AU","symbol_name":"EQT Holdings Ltd","start_time":0,"source_url":"https://seekingalpha.com/article/4686680-us-silica-to-be-acquired-for-15-50-per-share-positive-for-smaller-peer-smart-sand","article_id":"2430204121","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1410112518/image_1410112518.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430204121","pubTimestamp":1714145245,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"U.S. Silica is to be acquired by Apollo Funds for $1.85 billion in cash or $15.50 per share.Deals in the \"sand space\" are rare, but this is the second one in 2024.Positive impact is expected for SND a","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EQT.AU":"EQT Holdings Ltd","BK4179":"石油天然气设备与服务","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK7062":"资产管理与托管银行","BK4585":"ETF&股票定投概念","ACDC":"ProFrac Holding Corp.","BK4213":"石油与天然气的勘探与生产","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","SLCA":"US Silica Holdings","EQT":"EQT能源","BK4588":"碎股","AESI":"Atlas Energy Solutions Inc.","SND":"Smart Sand Inc.","ACDC.AU":"GLOBAL X BATTERY TECH & LITH","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD"},"translate_title":"以每股15.50美元的价格收购美国硅石公司；对较小的对等智能沙是积极的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EQT":1,"SND":1,"SLCA":1,"EQT.AU":1,"ACDC":1,"AESI":1,"ACDC.AU":1},"content_text":"U.S. Silica is to be acquired by Apollo Funds for $1.85 billion in cash or $15.50 per share.Deals in the \"sand space\" are rare, but this is the second one in 2024.Positive impact is expected for SND and ACDC as a result of the acquisition.   Matteo Colombo This morning, Apollo Funds reached an agreement to acquire mid-cap sand player U.S. Silica (NYSE:SLCA) in an all cash deal that values the company at $15.50 per share. U.S. Silica, who also reported a solid quarter this morning as noted in the table below, has shelved their quarterly conference call in the wake of the announcement. The deal values U.S. Silica at approximately 5x TEV/Street, 2024 EBITDA. This is a good price for sand or non-name brand oil service at the moment. SLCA is our 11th largest holding, and we have a $12.82 cost, and we plan to sell our shares today. Deals in the \"sand space\" are somewhat rare, but this is the second one in 2024. In February, Permian sand player Atlas Energy (AESI) scooped up the Permian mines of the old Hi-Crush in a $450 mm deal. Analysts, investors, and management teams in the sand segment see the need for further consolidation with more mines coming under fewer management umbrellas leading to higher utilization and greater stability of both the service offering with improved logistics and firmer pricing with less waste in the system. Potential Positive Knock On Impacts: Smart Sand (NASDAQ:SND) is an underutilized operation with 3 mines and 10 mm tons per year of capacity. We have written on them a number of times in the past for Seeking Alpha, most recently in Smart Sand: An Underfollowed Gem. The company should post their best volumes quarter next month, as well as their biggest volume year in 2024. They have a clean balance sheet and low capital requirements, and they are expanding volumes into Canada (a new market for them last year). We also note they are a large provider of sand to gas giant EQT (EQT) in Appalachia. Meanwhile, Smart Sand is trading at 2.0x, 2024 EBITDA as of last night's close. We view the falling number of potential investment vehicles and low current valuation of SND as a positive for the shares. We would also note that this deal is likely helpful to the ProFrac (ACDC) effort to monetize their sand segment, Alpine Silica, as it provides a fresh set of comps should they spin the segment out. For Reference: Z4 Energy Research  Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430204121"}