Handy & Harman To Acquire SL Industries - Quick Facts

(RTTNews) - Handy & Harman Ltd. (HNH) and SL Industries, Inc. (SLI) announced they have entered into a definitive merger agreement. HNH, through a wholly owned subsidiary, will commence a tender offer to purchase up to all of the outstanding shares of SLI common stock at a purchase price of $40.00 per share in cash.

Warren Lichtenstein, Chairman of HNH, said, "We believe this transaction exemplifies our strategy of profitably growing and building upon our core business units both internally and through strategic acquisitions. Affiliates of HNH first purchased shares in SLI almost 25 years ago when the stock was selling for around $3.50 per share. SLI is a company we know well and we expect it will be a great addition to the HNH / Steel family of businesses."