US Silica Investors OK Apollo’s $1.85B Take-private Deal

Hart Energy07-17

U.S. Silica approved a sale to Apollo Global Management in a deal that will take the proppant services company private. The $1.85 billion cash transaction was approved during a special meeting of U.S....

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approximately 78% of outstanding shares were represented during the stockholder meeting.The deal is expected to close before the end of the third quarter, Katy, Texas-based U.S. Silica said.U.S. Silica agreed to the deal with Apollo in late April.Under the terms of the agreement, U.S. Silica stockholders will receive $15.50 per share in cash for each share of common stock owned as of closing; the purchase price represented a nearly 19% premium over the company’s closing stock price of $13.06 on April 25.After closing, U.S. Silica’s stock will cease trading on the New York Stock Exchange and the firm will become a private company.Apollo to Buy,","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ISBC":"投资者银行","SLCA":"US Silica Holdings","BK4211":"区域性银行","APO":"阿波罗全球管理","BK4179":"石油天然气设备与服务"},"translate_title":"美国二氧化硅投资者同意Apollo的$1.85 B私有化交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ISBC":1,"SLCA":1,"APO":0.9},"content_text":"U.S. Silica approved a sale to Apollo Global Management in a deal that will take the proppant services company private.\nThe $1.85 billion cash transaction was approved during a special meeting of U.S. Silica stockholders held July 16, the company said after markets closed.\nThe merger was approved by more than 75% of U.S. Silica’s outstanding shares; approximately 78% of outstanding shares were represented during the stockholder meeting.\nThe deal is expected to close before the end of the third quarter, Katy, Texas-based U.S. Silica said.\nU.S. Silica agreed to the deal with Apollo in late April.\nUnder the terms of the agreement, U.S. Silica stockholders will receive $15.50 per share in cash for each share of common stock owned as of closing; the purchase price represented a nearly 19% premium over the company’s closing stock price of $13.06 on April 25.\nAfter closing, U.S. Silica’s stock will cease trading on the New York Stock Exchange and the firm will become a private company.\nU.S. Silica will continue to be led by CEO Bryan Shinn and its current executive team after closing, and the company will operate under the same brand.\nThe company produces commercial silica used by the oil and gas industry and other industrial applications.\n\nRELATED\nApollo to Buy, Take Private U.S. Silica in $1.85B Deal","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"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; 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