Reuters reported that metals processor Reliance Steel & Aluminum Co will buy Metals USA Holdings Corp for USD 766 million.
The USD 20.65 per share cash offer represents a 13 percent premium to Metals USA's Tuesday close of USD 18.30 on the New York stock Exchange.
Metals USA, which had 37.1 million shares outstanding as of Nov. 1, is 53 percent owned by Apollo Global Management LLC .
The enterprise value of the deal was about USD 1.2 billion.
Source - Reuters
