Haynes shareholders approve acquisition by Acerinox [Yahoo! Finance]
ACERINOX SA UNSP/ADR (ANIOY)
NASDAQ:AMEX Investor Relations:
acerinox.com/en/accionistas-inversores
Company Research
Source: Yahoo! Finance
In a company filing with the Securities and Exchange Committee on Tuesday, Haynes said shareholders representing 10,578,609 of the company's common stock voted in favor of the acquisition and 3,842 voted against. The company said 82.82% of the company's eligible and outstanding shares voted. In February, the two companies announced the acquisition in an all-cash deal valued at $970 million. The deal includes takeover of Haynes' debt. Specifically, Haynes would be acquired by Acerinox's wholly-owned subsidiary North American Stainless, with the company paying Haynes shareholders $61 per share. The company's stock price was just over $60 per share Wednesday morning and is up 5.53% year-to-date and 87% over the last five years. The deal is expected to close in the third quarter of 2024, pending regulatory approval. The acquisition comes with a commitment of $200 million in its U.S. operations over the next four years, including $170 million into Haynes' operations, the "vast maj
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