Steel Partners to Acquire Remaining Stake in Steel Connect
June 13, 2022
Steel Partners Holdings will acquire the remaining common stock of Steel Connect, making Steel Connect a wholly owned subsidiary. The consideration is $1.35 per share in cash plus a contingent value right (CVR) tied to net proceeds exceeding $80 million if Steel Connect’s ModusLink subsidiary is sold within two years after closing.
- Buyers
- Steel Partners Holdings L.P.
- Targets
- Steel Connect, Inc.
- Industry
- Transportation
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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