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Reliance deal gains antitrust OK

Keywords: Tags  Reliance Steel & Aluminum, Metals USA Holdings, antitrust clearance, Federal Trade Commission, merger, Corinna Petry

CHICAGO — The proposed acquisition of Metals USA Holdings Corp. by Reliance Steel & Aluminum Co. moved one step closer to completion after the deal was granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, according to a Federal Trade Commission document.

This means the government has determined the transaction won’t adversely affect U.S. commerce under antitrust laws.

Los Angeles-based Reliance has offered to purchase Fort Lauderdale, Fla.-based Metals USA for about $1.2 billion (, Feb. 6). The transaction is expected to close during the second quarter, the two parties have said.

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