U.S. Silica completes transaction with Apollo funds

U.S. Silica Holdings (SLCA) and Apollo (APO) announced that funds managed by affiliates of Apollo have completed the previously announced acquisition of the company. The company will continue to operate under the U.S. Silica name and brand and will continue to be led by Bryan Shinn and the existing executive team. Pursuant to the terms of the transaction, an affiliate of Apollo Funds acquired all of the outstanding shares of U.S. Silica stock. Shareholders are entitled to receive $15.50 per share in cash for each share of U.S. Silica common stock owned. As a result of the transaction completion, U.S. Silica’s common stock no longer trades on the New York Stock Exchange.