07:30 AM EDT, 04/26/2024 (MT Newswires) -- US Silica Holdings ( SLCA ) said Friday it has agreed to be acquired by funds managed by affiliates of Apollo Global Management ( APO ) in a deal valued at approximately $1.85 billion in cash.

Under the terms of the deal, US Silica ( SLCA ) stockholders will receive $15.50 per share in cash for each share they hold, representing an 18.7% premium over the company's April 25 closing price and a 33% premium over its 90-day volume-weighted average share price.

The agreement also includes a 45-day "go-shop" period that will end on June 10.

The transaction is expected to close in Q3, subject to shareholder and regulatory approvals. Upon closing, US Silica's ( SLCA ) common stock will no longer be listed on the New York Stock Exchange.

US Silica ( SLCA ) Chief Executive Bryan Shinn and its current executive team will continue to oversee the company after the deal closes.

Shares of US Silica ( SLCA ) were up more than 17% in recent Friday premarket activity.

Price: 15.29, Change: +2.23, Percent Change: +17.08