A.M. Castle moves to fend off possible takeover
Aug 31, 2012 | 04:32 PM
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Tags
A.M. Castle,
Platinum Equitry,
Ryerson Holding,
Reliance Steel & Aluminum,
Tom Gores,
steel service center,
Frank Haflich
LOS ANGELES — One of the oldest service center chains in the country might be in play as A.M. Castle & Co. has adopted a shareholder rights plan in an apparent move to fend off a possible takeover attempt by private investment firm Platinum Equity LLC.
The rights plan is designed to reduce the likelihood of a "coercive takeover," the Oak Brook, Ill.-based company said. Often referred to as "poison pills," these plans are widely viewed as designed to discourage outside takeovers.....
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