Acerinox has taken a significant step to boost its position in high-performance alloys in the U.S. after successfully integrating VDM in Europe. Its subsidiary, NAS, will acquire Haynes International.
The agreement, announced on February 5, stipulates that Acerinox's wholly-owned subsidiary, North American Stainless (NAS), will purchase all outstanding shares of Haynes for USD 61 per share in cash, representing a 22% premium and bringing the transaction value to USD 970 million. The Boards of Directors of both Haynes and Acerinox unanimously approved the transaction, which is expected to close in Q3/2024, pending regulatory approval and meeting customary closing conditions. Continue Reading? Please click box below!