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 wont 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 (
amm.com, Feb. 6). The transaction is expected to
close during the second quarter, the two parties have said.