Optima Specialty Steel likely to complete ALJ acquisition by end of January

Tuesday, 22 January 2013 02:18:06 (GMT+3)   |   San Diego
       

Ashland, Kentucky-based ALJ Regional Holdings has announced that based on conversation with Optima Specialty Steel, Inc. regarding its efforts to secure sufficient financing to complete the acquisition of ALJ's majority-owned subsidiary, KES Acquisition Company, ALJ believes that the closing of the merger is likely to occur on Monday, January 28, 2013.

In light of this, ALJ has extended the expiration date of its offer to purchase up to 30,000,000 shares of its outstanding common stock under its previously announced modified "Dutch auction" tender offer. The tender offer is now set to expire on January 31, 2013, unless further extended. To date, 38,008,621 shares of ALJ's common stock have been tendered and deposited in the tender offer. The tender offer is conditioned upon completion of the merger, which in turn is conditioned on Optima securing sufficient financing.


Similar articles

Falcon Steel America acquires new manufacturing facility in Texas

28 Nov | Steel News

Jindal Tubular USA acquires PSL North America

03 Sep | Steel News

MasTec acquires Canada-based pipeline construction company

31 May | Steel News

Timken Company acquires Canada’s Standard Machine

14 May | Steel News

Worthington Industries acquires Kansas-based tank producer

10 Apr | Steel News

NCA Partners acquires Calgary-based Warwick Industries and Kent Steel

14 Mar | Steel News

Timken Company acquires UK-based Interlube Systems

14 Mar | Steel News

National Oilwell Varco and Robbins & Myers complete merger

21 Feb | Steel News

AZZ Incorporated acquires Nova Scotia-based galvanizing plant

10 Jan | Steel News

Timken Company acquires Colorado-based Wazee Companies

03 Jan | Steel News