Greenville, South Carolina - Steel Partners Holdings has agreed to delay its pending its request for consent to to its proposed takeover of JPS Industries Inc.
Steel Partners will not start asking for consent to the takeover for a period of thirty days, JPS said in a 17 Oct announcement. Steel Partners of New York announced 21 Sept that it had expressed willingness to acquire the Greenville, South Carolina company.
In response, JPS Industries formed a special committee of independent directors to evaluate strategic alternatives in order to maximise value for all JPS Industries stockholders.
JPS Industries makes extruded urethanes product under the name Stevens Urethane, as well as ethylene vinyl acetate film and sheet, and mechanically formed glass and aramid substrate materials for speciality applications in many markets requiring highly engineered components.