Universal Stainless Stockholders Approve Acquisition by Aperam
Deal News | Jan 15, 2025 | Globenewswire
Universal Stainless & Alloy Products, Inc. announced its stockholders have approved an acquisition by Aperam S.A. at a special meeting. Under the merger agreement, Universal shareholders will receive $45.00 per share in cash. Approximately 99% of the shares voted supported the merger, which represented 68% of the total outstanding shares. The transaction is slated to close in Q1 2025, following satisfaction of remaining closing conditions. Aperam is a global leader in stainless and specialty steels, with a strong market presence in over 40 countries.
Sectors
- Specialty Steel Manufacturing
- Mergers & Acquisitions
Geography
- United States – Universal Stainless & Alloy Products is headquartered in Bridgeville, PA, making the U.S. a relevant geography.
- Europe – Aperam operates production facilities in Belgium and France, making Europe a relevant geography.
- Brazil – Aperam has stainless steel production capacity in Brazil, making this geographical region pertinent to the article.
Industry
- Specialty Steel Manufacturing – The article involves Universal Stainless & Alloy Products, a company involved in the manufacturing and marketing of specialty steels, making this industry relevant.
- Mergers & Acquisitions – The focus on Aperam's acquisition of Universal Stainless identifies the article within the M&A industry space.
Financials
- 45.00 – Per share cash offer for Universal stockholders under the terms of the merger agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Universal Stainless & Alloy Products, Inc. | Target Company | Company | Manufacturer of specialty steels used in diverse industries, located in Bridgeville, PA. |
| Aperam S.A. | Bidding Company | Company | A global player in stainless and specialty steels, with operations across Europe and Brazil. |