Universal Stainless & Alloy stockholders approve acquisition by Aperam

Universal Stainless & Alloy’s stockholders 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 $45.00 per share in cash for every share of Universal common stock they own immediately prior to the effective time of the merger. Approximately 99% of the shares voted were voted in favor of the merger, which represented approximately 68% of the total outstanding shares of Universal common stock as of November 22. The transaction is expected to close in Q1 2025.