Reliance concludes $1.24B Metals USA buy

Apr 15, 2013 | 11:29 AM | Corinna Petry

Tags  Reliance Steel & Aluminum, merger, Metals USA, David Hannah, Lourenco Goncalves, Bob McPherson, Roger Krohn, Ali Rashid Corinna Petry

CHICAGO — Reliance Steel & Aluminum Co. has completed its previously announced purchase of Metals USA Holdings Corp. for $1.24 billion, comprising $20.65 per share ($786 million) in cash for shareholders and the assumption of $454 million in debt.

Metals USA is now a wholly owned subsidiary of Reliance.

This acquisition, Reliance’s largest in terms of value, adds 48 service centers across the United States to its existing operations and complements its existing customer base, product mix and geographic footprint, the Los Angeles-based company said.....

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