Xerium Tech To Be Acquired By Andritz For $13.50/shr

(RTTNews) - Xerium Technologies, Inc. (XRM) and Andritz AG (ADRZF.PK) announced that they have entered into a definitive merger agreement by which Andritz will acquire Xerium for $13.50 per share in an all-cash transaction.

This price per share represents a premium of 146.8% to the unaffected share price prior to the announcement by Xerium of a review of strategic alternatives on March 19, 2018.

Two of Xerium's largest stockholders, Carl Marks Management Company and Wynnefield Capital, which together represent approximately 20% of Xerium's outstanding common stock, have entered into a voting agreement with Andritz to support the merger.

Completion of the transaction is subject to approval by Xerium's stockholders, regulatory approvals, and other customary closing conditions. The parties expect to close the transaction during the second half of 2018.