Brief: Steel Partners, Steel Connect Enter Into Definitive Merger Agreement

Steel Connect

13/06/2022 11:09

June 13 (Reuters) - Steel Partners Holdings LP  SPLP.N :
    * STEEL PARTNERS AND STEEL CONNECT ENTER INTO DEFINITIVE
MERGER
AGREEMENT
    * STEEL PARTNERS - HOLDERS OF STEEL CONNECT'S SHARES OF
COMMON
STOCK TO RECEIVE US $1.35/SHARE IN CASH & ONE CVR TO RECEIVE PRO
RATA SHARE OF NET PROCEEDS
    * STEEL PARTNERS HOLDINGS LP - UPON CLOSING OF MERGER, STEEL
CONNECT WILL BECOME A WHOLLY OWNED SUBSIDIARY OF STEEL PARTNERS
    * STEEL PARTNERS HOLDINGS LP - MERGER IS NOT SUBJECT TO A
FINANCING CONDITION
    * STEEL PARTNERS HOLDINGS LP - STEEL CONNECT WILL CALL A
MEETING
OF ITS STOCKHOLDERS FOR PURPOSE OF VOTING ON ADOPTION OF MERGER
AGREEMENT IN DUE COURSE
    * STEEL PARTNERS HOLDINGS LP - MERGER AGREEMENT INCLUDES A
"GO-SHOP" PERIOD THAT EXPIRES AT 11:59 P.M. EASTERN TIME ON JULY
12, 2022

Source text for Eikon:  ID:nBw4Nz2yva 
Further company coverage:  SPLP.N 

 ((Reuters.Briefs@thomsonreuters.com;))