Stellex Capital Management Announces The Execution Of A Definitive Agreement To Acquire McConway & Torley And Standard Forged Products From Arcosa; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Stellex Capital Management has announced a definitive agreement to acquire McConway & Torley and Standard Forged Products from Arcosa, Inc. (NYSE: ACA). The acquisition is expected to close in the third quarter. No financial terms were disclosed.
August 05, 2024 | 12:14 pm
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Arcosa, Inc. (NYSE: ACA) has entered into a definitive agreement to sell McConway & Torley and Standard Forged Products to Stellex Capital Management. The deal is expected to close in the third quarter.
The sale of McConway & Torley and Standard Forged Products could positively impact Arcosa's stock price in the short term as it may streamline operations and potentially improve financial metrics. The market often views such divestitures favorably, especially if the assets sold are non-core or underperforming.
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