Reliance closes PNA Group acquisition for nearly $1.1B

Aug 04, 2008 | 11:22 AM | Corinna Petry

Reliance Steel & Aluminum Co., Los Angeles, has completed its acquisition of PNA Group Holding Corp., an Atlanta-based steel service center group.

The roughly $1.065-billion transaction value included $725 million of PNA's debt that was repaid or refinanced, including the settlement of Reliance's cash tender offer for 100 percent of PNA's outstanding notes.....

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