Wednesday, April 17, 2024
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel and cobalt-based high-performance alloys, primarily for use in the aerospace, industrial gas turbine and chemical processing industries.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Transaction approved by Haynes stockholders. At a special meeting on April 16, Haynes shareholders voted to approve the company’s pending acquisition by North American Stainless, Inc., a wholly owned subsidiary of Acerinox S.A. Acerinox, a leader in the manufacturing and distribution of stainless steel and high-performance alloys, will acquire all the outstanding shares of Haynes for $61.00 per share in an all-cash transaction.
Closing is expected in the third calendar quarter. The transaction is expected to close in the third calendar quarter of 2024. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on March 18. Remaining closing conditions include approval by the Committee on Foreign Investment in the United States (CFIUS), an interagency committee authorized to review transactions involving foreign investment in the U.S.. Other conditions are receipt of approvals, clearances, or expiration of waiting periods under certain foreign regulatory laws.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.