Luxfer Holdings to be acquired by Platinum Equity for $837M
Ticker: LXFR · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1096056
| Field | Detail |
|---|---|
| Company | Luxfer Holdings PLC (LXFR) |
| Form Type | 8-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, private-equity, going-private
Related Tickers: LXFR
TL;DR
Luxfer is getting bought by Platinum Equity for $837M ($24/share cash), deal expected H1 2025.
AI Summary
Luxfer Holdings PLC announced on December 19, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity Advisors, LLC. The transaction is valued at approximately $837 million, with shareholders to receive $24.00 per share in cash. The deal is expected to close in the first half of 2025, subject to customary closing conditions.
Why It Matters
This acquisition by Platinum Equity at a significant premium signals a major strategic shift for Luxfer Holdings, potentially leading to operational changes and a delisting from the NYSE.
Risk Assessment
Risk Level: medium — The deal is subject to closing conditions, and there's always a risk of regulatory hurdles or financing issues, although the all-cash offer reduces some typical deal risks.
Key Numbers
- $837M — Transaction Value (Total amount Platinum Equity is paying for Luxfer Holdings.)
- $24.00 — Price Per Share (Cash amount each Luxfer shareholder will receive.)
Key Players & Entities
- Luxfer Holdings PLC (company) — Company being acquired
- Platinum Equity Advisors, LLC (company) — Acquiring entity
- $837 million (dollar_amount) — Total transaction value
- $24.00 (dollar_amount) — Price per share in cash
- December 19, 2024 (date) — Date of announcement
- first half of 2025 (date) — Expected closing period
FAQ
What is the total value of the acquisition agreement?
The acquisition agreement is valued at approximately $837 million.
What price per share will Luxfer Holdings shareholders receive?
Luxfer Holdings shareholders will receive $24.00 per share in cash.
Who is acquiring Luxfer Holdings PLC?
An affiliate of Platinum Equity Advisors, LLC is acquiring Luxfer Holdings PLC.
When is the acquisition expected to be completed?
The transaction is expected to close in the first half of 2025.
What stock exchange is Luxfer Holdings PLC currently listed on?
Luxfer Holdings PLC is currently listed on the New York Stock Exchange (NYSE) under the ticker LXFR.
Filing Stats: 512 words · 2 min read · ~2 pages · Grade level 12.7 · Accepted 2024-12-20 06:53:09
Filing Documents
- lxfr-20241219.htm (8-K) — 27KB
- a2024-sustainabilityxrep.htm (EX-99.01) — 4KB
- a2024-sustainabilityxrep001.jpg (GRAPHIC) — 192KB
- a2024-sustainabilityxrep002.jpg (GRAPHIC) — 32KB
- 0001096056-24-000064.txt ( ) — 489KB
- lxfr-20241219.xsd (EX-101.SCH) — 2KB
- lxfr-20241219_def.xml (EX-101.DEF) — 4KB
- lxfr-20241219_lab.xml (EX-101.LAB) — 26KB
- lxfr-20241219_pre.xml (EX-101.PRE) — 17KB
- lxfr-20241219_htm.xml (XML) — 3KB
01 Other events *
Item 8.01 Other events * On December 19, 2024, Luxfer Holdings PLC issued a press release announcing the release of its 2024 Sustainability Report, highlighting the Company's continued progress toward its environmental, social, and governance, ("ESG"), objectives. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Exhibits EXHIBIT NUMBER DESCRIPTION 99.1 Press Release dated December 19, 2024 * 104 Interactive Data File (Inline XRBL tagging embedded within Cover Page of this Current Report on Form 8-K) * The information contained in Item 8.01 and Exhibit 99.1 of this Current Report on Form 8-K is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities under that section. Furthermore, such information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly identified as being incorporated therein by reference.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LUXFER HOLDINGS PLC (Registrant) Date: December 20, 2024 By: /s/ Benjamin M. Coulson Name: Benjamin M. Coulson Title: Corporate Controller & Company Secretary