- Steel Partners Holdings LP (NYSE:SPLP) agreed to acquire the remaining shares of Steel Connect, Inc (NASDAQ:STCN) for $1.35 per share in cash and earn-out consideration.
- Steel Connect shares closed at $1.21 on June 10.
- Steel Connect will become a wholly-owned subsidiary of Steel Partners under the arrangement.
- Steel Partners held $201.4 million in cash and equivalents as of March 31, 2022.
- Price Action: STCN shares traded higher by 15.70% at $1.40 in the premarket on the last check Monday.
Here’s Why Steel Connect Shares Are Up Premarket
Steel Partners Holdings LP (NYSE:SPLP) agreed to acquire the remaining shares of Steel Connect, Inc (NASDAQ:STCN) for $1.35 per share in cash and…
