A.M. Castle moves to fend off possible takeover

Aug 31, 2012 | 04:32 PM |

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.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results