Acerinox (via North American Stainless) Acquires Haynes International

Acerinox entered into a definitive agreement to acquire Haynes International in an all-cash transaction valued at about $970 million enterprise value. Acerinox will buy all outstanding shares of Haynes for $61.00 per share through its wholly owned U.S. subsidiary, North American Stainless (NAS), and plans to invest about $200 million over four years in the combined U.S. operations, mostly in Kokomo, Indiana.