secwatch.observer — SEC 8-K summary
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Issuer:     SunCoke Energy, Inc. (SXC)
CIK:        0001514705
Form:       8-K
Filed at:   2025-05-28T23:59:59+00:00
Accession:  0001514705-25-000010
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SunCoke acquires Phoenix Global for $325M cash; deal implies 5.4x EBITDA, expected H2 2025
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- Base purchase price $325M in cash, funded from existing cash and undrawn revolver.
- Implied multiple of 5.4x LTM Adjusted EBITDA of $61M as of 3/31/25.
- Expected annual synergies of $5M-$10M; acquisition immediately accretive.
- Expands into EAF and international markets; long-term fixed-revenue contracts limit commodity exposure.
- Transaction expected to close in H2 2025; 80% of Phoenix unitholders already support; HSR and Romanian FDI conditions apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514705/000151470525000010/0001514705-25-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514705/000151470525000010/sxc-20250528.htm
  HTML page:      https://secwatch.observer/filing/0001514705-25-000010

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