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Babcock & Wilcox rebuffs Steel Partners buyout

Published 02/06/2018, 11:10 AM
Updated 02/06/2018, 11:10 AM
© Reuters.  Babcock & Wilcox rebuffs Steel Partners buyout
  • Steel Partners (SPLP) has reported an 11.8% stake in Babcock & Wilcox (BW -3.1%) as of Jan. 26, believing the shares were "undervalued and represented an attractive investment opportunity."
  • On December 15, 2017, Steel Partners also made a proposal to acquire all of the shares it doesn't already in Babcock & Wilcox for $6.00 per share in cash, representing a premium of approximately 33% over the then 30-day volume-weighted average share price.
  • While the company was "unwilling to engage in any meaningful discussions" regarding this proposal, Steel Partners intends to continue to communicate with BW's management and board of directors about a broad range of strategic and operational matters.
  • SEC Form 13D
  • Now read: How To Find The Hottest Sectors For 2018 In The Coldest Part Of The Year


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