US investment HIG firm to acquire chem firm AMPAC in $392m deal

10 January 2014 15:38  [Source: ICIS news]

HOUSTON (ICIS)--US fine and specialty chemicals custom manufacturer American Pacific Corporation (AMPAC) has agreed to be acquired by investment firm HIG Capital in a deal valued at $392m, it said on Friday.

Under the terms of the agreement, HIG will, no later than 24 January, commence a tender offer to acquire AMPAC's outstanding common stock for $46.50/share, reflecting a premium of 18.9% over the closing share price on 9 January, AMPAC said.

The board of directors of Las Vegas, Nevada-based AMPAC has unanimously approved the deal and recommends that shareholders tender their shares, the company added.

By: Stefan Baumgarten
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