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ALJ Announces Anticipated Closing Date of Merger
01/21/2013 - ALJ Regional Holdings, Inc. (ALJ) announced that based on conversations with Optima Specialty Steel, Inc. regarding its efforts to secure sufficient financing to complete the acquisition of ALJ’s majority-owned subsidiary, KES Acquisition Co., ALJ believes that the closing of the merger is likely to occur on Monday, 28 January 2013.
ALJ Regional Holdings, Inc. (ALJ) announced that based on conversations with Optima Specialty Steel, Inc. regarding its efforts to secure sufficient financing to complete the acquisition of ALJ’s majority-owned subsidiary, KES Acquisition Co., ALJ believes that the closing of the merger is likely to occur on Monday, 28 January 2013.
In light of this, ALJ has extended the expiration date of its offer to purchase up to 30,000,000 shares of its outstanding common stock under its previously announced modified “Dutch auction” tender offer. The tender offer, which as previously extended was due to expire at 12:00 am EST, on Thursday, 17 January 2013, is now set to expire at 12:00am EST, on 31 January 2013, unless further extended. To date, 38,008,621 shares of ALJ’s common stock have been tendered and deposited in the tender offer. The tender offer is conditioned upon completion of the merger, which in turn is conditioned on Optima securing sufficient financing.
ALJ is the parent company of KES, the owner and operator of a steel mini-mill near Ashland, Kentucky producing both merchant bar quality flats (MBQ bar flats), and special bar quality steel flats (SBQ bar flats).
