Andritz buys Xerium Technologies for $13.50 a share

Youngsville, NC-based Xerium Technologies, Inc. announced a definitive merger agreement under which Andritz, Graz, Austria, will acquire Xerium for $13.50/share in an all-cash transaction.

The share price 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 about 20% of Xerium’s outstanding common stock, have agreed to support the merger.

Closing is expected in the second half of 2018. www.xerium.com

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