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BRIEF-Steel Partners to acquire remaining shares of Steel Excel
December 7, 2016 / 9:31 PM / in a year

BRIEF-Steel Partners to acquire remaining shares of Steel Excel

Dec 7 (Reuters) - Steel Partners Holdings Lp :

* Steel Partners Holdings Lp - deal for $17.80 per share in preferred units of steel partners

* Steel Partners Holdings Lp says steel partners currently owns approximately 64 pct of Steel Excel’s outstanding shares

* Steel Partners Holdings-steel partners, through unit, to commence an exchange offer to acquire all of outstanding shares of Steel Excel’s common stock

* Steel Partners Holdings Lp - definitive agreement was unanimously approved by a special committee of board of directors of Steel Excel

* Steel Partners Holdings Lp - upon completion of transaction, Steel Excel will no longer be publicly traded

* Steel Partners Holdings - preferred units will have a 9-year term, carry a 6 pct coupon, and will be redeemable at any time at option of steel partners

* Steel partners signs definitive agreement to acquire remaining shares of Steel Excel Source text for Eikon: Further company coverage:

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