.jpg?lang=en-US&ext=.jpg)
.gif?width=220&height=200&mediaprotectionhash=374c6b9a31f2b2fbfc7937391034efb46fd57feba997b9ad2ae9a0bd3d48329d&ext=.gif)
Investment Firm Takes Another Shot at Acquiring Boiler Maker
05/25/2018 - Boiler and pollution control systems maker Babcock & Wilcox Enterprises Inc. said it is reviewing a nonbinding offer for the business from its largest shareholder, Steel Partners Holdings.
In a statement, B&W said the nonbinding "indication of interest" proposes to buy the company for somewhere between US$3 to US$3.50 per outstanding share, or about US$485 million.
Steel Partners, a holding company with a portfolio of business in a variety of industries, already owns 17.8% of B&W’s outstanding shares.
B&W said its board will review the offer to "to determine the course of action it believes to be in the best interests of B&W and its stockholders."
According to the Charlotte (North Carolina) Business Journal, Steel Partners had offered to buy the business for what amounted to US$250 million last year, but B&W didn’t bite on the proposal.
.gif?width=100&height=200&mediaprotectionhash=e2d5b15d68f84f22038524be6c58e5268d67b7f44494b544e29a8d53c5b959ba&ext=.gif)
