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Stock impact report

Acerinox's purchase of Haynes International completed [Yahoo! Finance]

Haynes International, Inc. (HAYN) 
Last haynes international, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: haynesintl.com/contact/investor-relations
Company Research Source: Yahoo! Finance
Acerinox, through its wholly-owned U.S. subsidiary North American Stainless, has completed its purchase of Haynes International, the two companies announced Thursday morning. Haynes will now become a wholly-owned subsidiary of Acerinox. “We are excited to officially welcome Haynes,” Bernardo Velázquez Herreros, CEO of Acerinox, said in a news release. “Haynes has built a leading high-performance alloys business. Their addition to Acerinox strengthens our global position in this segment, creating opportunities for growth in the aerospace sector and in the attractive U.S. market.” The two companies announced the acquisition in February. The all-cash deal values the Kokomo nickel and cobalt high performance alloy manufacturer at $970 million and includes the takeover of Haynes' debt. Specifically, Acerinox will be paying Haynes shareholders $61 per share. Acerinox company officials said at the time the acquisition is a “strategic investment” that will further allow the company to Show less Read more
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