Metals sector could see M&A ramp up: KeyBanc
Jul 07, 2014 | 05:46 PM
| Michael Cowden
CHICAGO The next year could see increased merger-and-acquisition activity in the metals sector as markets improve, according to one analyst.
But M&A will likely focus on nonferrous, specialty metals and downstream metals consumers and processors rather than on carbon steel producers, Eric Klenz, director of Cleveland-based KeyBanc Capital Markets Inc.s metals and mining practice, told AMM in an exclusive interview.
"Things are picking up now, and I think there are some things under way that could get done in the next 12 months," Klenz said, with deals likely to range from several hundred million dollars to as much as $1 billion.
Pittsburgh-based Alcoa Inc.s acquisition of U.K. aerospace components manufacturer Firth Rixson Ltd. for $2.85 billion (amm.com, June 26) is a prime example of the type of deal to expect, Klenz said.....
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