Aperam S.A. (Aperam), a pioneer in stainless, specialty steel solutions and recycling, and Universal Stainless, a premier supplier in the aerospace and industrial sectors in the USA, announced that the stockholders of Universal Stainless & Alloy Products, Inc. (Universal) have voted at a special meeting of Universal stockholders to approve the Company’s pending acquisition by Aperam S.A. Under the terms of the merger agreement governing the proposed acquisition, Universal stockholders are entitled to receive USD 45.00 per share in cash for every share of Universal common stock they own immediately prior to the effective time of the merger.
At the Special Meeting, approximately 99% of the shares voted were voted in favour of the merger, which represented approximately 68% of the total outstanding shares of Universal common stock, the record date for the Special Meeting.
Assuming the fulfilment of remaining closing conditions, the transaction is expected to close in Q1 2025.
