Apollo Global Management has entered into a definitive agreement to acquire U.S. Silica, a provider of frack-sand, in a deal valued at $1.85 billion. This acquisition will be conducted through funds managed by affiliates of Apollo, with the purchase price set at $15.50 per share in cash. The transaction represents a significant premium of 18.7% over the previous trading price. Concurrently, a group of lenders led by RBC is initiating a bond sale of approximately $365 million to offload debt accumulated from Apollo's previous acquisition of Tenneco in 2022.
Interesting oilfield services supply business buyout, at a 19%-33% premium. Apollo apparently sees upside in sand! https://t.co/kinDwrrTsC
U.S. Silica Enters Into Definitive Agreement to Be Acquired by Apollo Funds for $1.85 Billion
Today's M&A notes $SLCA to be acquired by $APO for $15.50 cash, 18.7% premium, $1.85 billion $ADZN.to to be acquired by $SVM.to for 0.1015x shares, 17.0% premium, $200 million $AAL.ln rejected unsolicited proposal from $BHP $NGMS / $ALL.au deal closed https://t.co/w6IwpnvrCQ
Silvercorp Metals to Acquire Adventus Mining For $200 Million $SVM $ADZN https://t.co/VDdbakoUx0 via @TheDeepDive_ca
$APO PE funds to buy U.S. Silica for $15.50/share $SLCA
Funds managed by affiliates of Apollo Global will buy frack-sand provider US Silica for $1.21 billion https://t.co/qnkX9JzkJ5
$SLCA (+17.1% pre) Apollo Global Management $APO to Buy US Silica (SLCA) for $15.50/sh Cash - SI https://t.co/o70X23moYd
Apollo Global to Buy U.S. Silica in $1.85 Billion Deal https://t.co/qdEsk40Whc
PE Advent International queues up for a stake in Apollo 24/7 https://t.co/ncJ2HCL7Im
A group of lenders led by RBC launched a roughly $365 million bond sale to offload debt they’ve been stuck with since Apollo’s buyout of Tenneco in 2022 https://t.co/D7AgmyoGuX