Materion to be Acquired by HGGC Affiliate for $1.15B
Ticker: MTRN · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1104657
| Field | Detail |
|---|---|
| Company | Materion Corp (MTRN) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, private-equity
TL;DR
Materion going private! HGGC buying for $1.15B ($65/share) - deal expected Q4 2024.
AI Summary
Materion Corporation announced on August 5, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of HGGC, LLC. The transaction is valued at approximately $1.15 billion, or $65.00 per share in cash. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition marks a significant change in ownership for Materion, potentially impacting its strategic direction and operations under new private equity ownership.
Risk Assessment
Risk Level: medium — The deal is subject to customary closing conditions, and there's always a risk of regulatory hurdles or financing issues preventing the transaction from closing.
Key Numbers
- $1.15B — Transaction Value (Total amount Materion Corporation is being acquired for.)
- $65.00 — Price Per Share (Cash amount shareholders will receive per share.)
Key Players & Entities
- Materion Corporation (company) — Company being acquired
- HGGC, LLC (company) — Acquiring entity's affiliate
- $1.15 billion (dollar_amount) — Total transaction value
- $65.00 (dollar_amount) — Price per share in cash
- August 5, 2024 (date) — Date of definitive agreement
- Fourth quarter of 2024 (date) — Expected closing period
FAQ
Who is the acquiring entity?
An affiliate of HGGC, LLC is acquiring Materion Corporation.
What is the total value of the transaction?
The transaction is valued at approximately $1.15 billion.
What is the price per share being offered?
The offer price is $65.00 per share in cash.
When is the acquisition expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
What are the conditions for closing the deal?
The transaction is subject to customary closing conditions.
Filing Stats: 425 words · 2 min read · ~1 pages · Grade level 11.1 · Accepted 2024-08-05 16:07:44
Filing Documents
- mtrn-20240805.htm (8-K) — 33KB
- q22024pressrelease.htm (EX-99.1) — 590KB
- image_2heading.jpg (GRAPHIC) — 51KB
- q22024prbannera.jpg (GRAPHIC) — 7KB
- 0001104657-24-000112.txt ( ) — 882KB
- mtrn-20240805.xsd (EX-101.SCH) — 2KB
- mtrn-20240805_def.xml (EX-101.DEF) — 14KB
- mtrn-20240805_lab.xml (EX-101.LAB) — 25KB
- mtrn-20240805_pre.xml (EX-101.PRE) — 15KB
- mtrn-20240805_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On August 5, 2024, Materion Corporation issued a press release announcing its results for the second quarter of 2024. The press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibits. Exhibit Number Description of Exhibit 99.1 Materion Corporation press release, dated August 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. Materion Corporation August 5, 2024 By: /s/ Shelly M. Chadwick Shelly M. Chadwick Vice President, Finance and Chief Financial Officer