Aperam : Universal, a far from transformative deal but positive on EPS and the stock perception
>Friendly transaction, implementation risks seem limited - Yesterday Aperam announced the project to acquire Universal Stainless, one of the leading US producers of alloys for aerospace, for $ 45 per share corresponding to an EV of $ 539m. The deal was approved by the Universal board but remains subject to shareholders’ approval with closing expected in H1 2025. The transaction is financed by a syndicated bank loan (ahead of a likely refinancing on the bond markets). ...APERAM is a stainless and specialty steel producer. Co. produces a range of stainless steel products and products including electrical steel (grain oriented, non-grain oriented, and non-grain oriented semi-processed steel), nickel alloys and specialties. Co. sells its products to customers on three continents in over 40 countries, including aerospace, automotive, catering, construction, household appliances and electrical engineering, industrial processes, medical, and oil & gas industries. Co. manages its business according to three operating segments: Stainless and Electrical Steel; Services and Solutions; and Alloys and Specialties.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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