Steel Products
February 8, 2013
Reliance Steel & Aluminum to Acquire Metals USA Holdings
Written by John Packard
Reliance Steel & Aluminum announced Wednesday morning a definitive merger agreement whereby Reliance will acquire all outstanding shares of Metals USA Holdings Corporation for approximately $1.2 billion. This will make Reliance the largest service center chain in North America with assets over $6.5 billion and annual sales in excess of $10.0 billion.
The transaction is subject to approval by Metals USA stockholders along with other regulatory clearances and customary closing conditions and includes a 30-day “go-shop” period.
