Reliance to buy Metals USA for $1.2B in cash

Feb 06, 2013 | 09:04 AM |

Tags  Reliance Steel & Aluminum, Metals USA, steel, distribution, merger, Lourenco Goncalves, David Hannah

NEW YORK — Reliance Steel & Aluminum Co. will acquire competitor Metals USA Holdings Corp. for about $1.2 billion in cash, the companies announced jointly Feb. 6.

The transaction, which has been unanimously approved by both companies’ boards, is still subject to regulatory clearances and approval by Metals USA stockholders and includes a 30-day shopping period during which....

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