Steel Partners to acquire remaining shares of Steel Excel

8 December 2016

Steel Partners Holdings Lp - deal for $17.80 per share in preferred units of steel partners

Steel Partners Holdings Lp says steel partners currently owns approximately 64 pct of Steel Excel's outstanding shares

Steel Partners Holdings-steel partners, through unit, to commence an exchange offer to acquire all of outstanding shares of Steel Excel's common stock

Steel Partners Holdings Lp - definitive agreement was unanimously approved by a special committee of board of directors of Steel Excel

Steel Partners Holdings Lp - upon completion of transaction, Steel Excel will no longer be publicly traded

Steel Partners Holdings - preferred units will have a 9-year term, carry a 6 pct coupon, and will be redeemable at any time at option of steel partners

Steel partners signs definitive agreement to acquire remaining shares of Steel Excel