SL Industries Gets Revised Takeover Offer From Handy & Harman - Quick Facts

(RTTNews) - SL Industries, Inc. (SLI) said that it has received a revised non-binding proposal from Handy & Harman Ltd. (HNH), a publicly traded Nasdaq company, to acquire all its outstanding shares of common stock.

Under the terms of the revised proposal, Handy & Harman has proposed to pay $35.50 per share in an all-cash transaction. Handy & Harman is an affiliate of Steel Partners Holdings L.P., which beneficially owns 25.1 percent of SL Industries' outstanding common stock.

Handy & Harman's initial proposal, received by the independent directors of the company's board of directors in June 2015, included a per share price of $43.00 to $45.00.

SL Industries said that the special committee of its board of directors will review and consider the revised proposal carefully in due course. The Special Committee's independent financial adviser is Houlihan Lokey Capital, Inc. and its legal counsel is Gardere Wynne Sewell LLP.

Further, SL Industries cautioned its stockholders and others considering trading in its securities that the Handy & Harman proposal was just received and no decisions have been made by the Special Committee with respect to a response.