Aperam: Universal AGM ratifies proposed takeover

(CercleFinance.com) - Aperam announced on Thursday that the shareholders of US-based Universal Stainless had overwhelmingly approved the proposed takeover of their company by the stainless steel specialist.


At an EGM, 99% of shareholders approved the transaction, which was initially formalised in October, based on a quorum representing 68% of the shareholder base.

Under the terms of the agreement, Universal Stainless & Alloy Products shareholders will receive $45 in cash for each share they hold, representing an enterprise value of $539m.

Aperam still expects to complete the acquisition in Q1.


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