|Bid||13.37 x 1800|
|Ask||13.40 x 1300|
|Day's Range||13.38 - 13.42|
|52 Week Range||3.70 - 13.48|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.00|
The buyout of a major manufacturer in Youngsville is a step closer to closing. Youngsville-based Xerium Technologies announced Thursday that shareholders had put their stamp of approval on its buyout by Austrian firm Andritz, which values the company at $13.50 per share. In a prepared statement, CEO Mark Staton said the deal “is the best outcome for all of our stockholders.” “We are also excited for our employee and customer stakeholders who we expect to benefit from the combined enterprise,” he stated.
Xerium Technologies, Inc. (XRM) announced that the Company’s stockholders voted at a special meeting held today to approve the previously announced merger agreement with Andritz AG, pursuant to which Xerium would be acquired by Andritz. Approximately 81.9% of the total issued and outstanding shares of Xerium common stock voted to approve the merger, exceeding the required vote of a majority of the issued and outstanding shares, and representing approximately 99.8% of the total votes cast at the special meeting on this proposal. Mark Staton, Xerium’s Chief Executive Officer said, “Today’s favorable vote clearly supports our view that Andritz’s proposal to acquire Xerium is the best outcome for all of our stockholders.
NEW YORK , Aug. 2, 2018 /PRNewswire/ -- Education Realty Trust, Inc. (EDR) Lifshitz & Miller announces investigation into possible breaches of fiduciary duties in connection with the proposed sale of ...
NEW YORK, NY / ACCESSWIRE / July 27, 2018 / Xerium Technologies, Inc. (NYSE: XRM ) will be discussing their earnings results in their Q2 Earnings Call to be held on July 27, 2018 at 9:00 AM Eastern Time. ...
NEW YORK , July 17, 2018 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City ...
NEW YORK, July 16, 2018-- Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of Web.com, Education Realty Trust, and Xerium Technologies. ...
NEW YORK, July 16, 2018-- The following statement is being issued by Levi & Korsinsky, LLP:. Levi & Korsinsky, LLP announces that investigations have commenced on behalf of shareholders of the following ...
Xerium Technologies, Inc. , a leading global provider of industrial consumable products and services, today announced that it plans to release its financial results for the second quarter 2018 after the close of regular market trading on Thursday, July 26, 2018.
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC are investigating the proposed sale of Xerium Technologies, Inc.
NEW YORK, July 06, 2018-- The following statement is being issued by Levi & Korsinsky, LLP:. To: All Persons or Entities who purchased Xerium Technologies, Inc. stock prior to June 25, 2018. You are hereby ...
Top execs at Youngsville-based Xerium and the company that’s buying it out, Austrian industrial giant Andriz AG, are asking employees and shareholders for “continued patience” as their companies work toward a combination.
NEW ORLEANS , June 27, 2018 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale ...
BALA CYNWYD, PA / ACCESSWIRE / June 26, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Xerium Technologies, Inc. ("Xerium" or "the Company") (NYSE:XRM News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Andritz AG ("Andritz"). The sale of the Company comes a mere three months after the Xerium Board announced that it would be "review[ing] strategic alternatives." Under the terms of the transaction, Xerium shareholders will receive only $13.50 in cash for each share of Xerium stock they own. The investigation concerns whether the Board of Xerium breached their fiduciary duties to shareholders by not completing a full and robust auction process to elicit the highest bid to acquire Xerium, and whether Andritz is underpaying for the Company.
Do you own shares of Xerium Technologies, Inc. (NYSE: XRM)? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Xerium Technologies, Inc. (“Xerium” or the “Company”) (NYSE: XRM) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Andritz AG (“Andritz”).
NEW YORK, June 26, 2018-- Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Xerium Technologies, Inc. stockholders concerning the proposed acquisition of the company by Andritz ...
NEW YORK , June 26, 2018 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against Xerium Technologies, Inc. (NYSE: XRM) and its board of directors for breach of fiduciary duty concerning ...
Three months after announcing a “review of strategic alternatives,” Youngsville-based manufacturing firm Xerium Technologies says it’s being acquired.
Moody's says on June 24, Xerium Technologies, Inc. (B2 stable) announced it will be acquired by Austria-based equipment supplier Andritz AG (unrated) for approximately $833 million in cash, including net financial liabilities of $590 million. The transaction is credit positive as Xerium's debt will either be assumed or repaid and the company will become part of a larger global supplier with stronger credit metrics. The companies announced that Andritz will pay $13.50 per Xerium share in cash, or more than 100% premium over Friday's close of $6.61.
NEW YORK, June 25, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Xerium Technologies, Inc. ("XRM" or the "Company") (XRM) in connection with the proposed acquisition of the Company by Andritz AG. WeissLaw is investigating whether XRM's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results. In April, XRM reported net sales of $126.1 million in the first quarter of 2018, representing an increase of 5.2% year-over-year when compared to the $119.9 million reported in the same period of the previous year.
Andritz has agreed to buy U.S. machine industry company and supplier Xerium Technologies in a cash deal worth roughly $833 million, the Austrian engineering group said on Monday. The move will enable Andritz, which makes machines and production lines for industries ranging from textiles and hydropower to steel and recycling, to strengthen its position in the paper industry, which Xerium supplies with parts and services. Investors welcomed the deal, sending Andritz's shares up 4.4 percent, making them the top gainer in Austria's blue-chip index .
Andritz has agreed to buy U.S. machine industry company and supplier Xerium Technologies in a cash deal worth roughly $833 million, the Austrian engineering group said on Monday. The move will enable Andritz, which makes machines and production lines for industries ranging from textiles and hydropower to steel and recycling, to strengthen its position in the paper industry, which Xerium supplies with parts and services. "Andritz will acquire Xerium for $13.50 per share in cash, in a transaction valued at approximately $833 million, including net financial liabilities of approximately $590 million," the Austrian company said.
Xerium Technologies, Inc. (XRM) and Andritz AG (WBAG:ANDR) today announced that they have entered into a definitive merger agreement under which Andritz will acquire Xerium for $13.50 per share in an all-cash transaction. This price per share represents a premium of 146.8% to the unaffected share price prior to the announcement by Xerium of a review of strategic alternatives on March 19, 2018. Two of Xerium’s largest stockholders, Carl Marks Management Company and Wynnefield Capital, which together represent approximately 20% of Xerium’s outstanding common stock, have entered into a voting agreement with Andritz to support the merger.