Dahlman Rose Upgrades Reliance Steel & Aluminum (RS) to Buy on MUSA Deal
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Dahlman Rose Downgrades Metals USA (MUSA) to Hold on Pending RS Takeover
February 7, 2013 8:17 AM ESTDahlman Rose downgraded Metals USA (NYSE: MUSA) from Buy to Hold on pending takeover by RS.
For an analyst ratings summary and ratings history on Metals USA click here. For more... More
Reliance Steel (RS) to Acquire Metals USA (MUSA) for $20.65/Share
February 6, 2013 8:31 AM ESTReliance Steel & Aluminum Co. (NYSE: RS) and Metals USA Holdings Corp. (NYSE: MUSA) today announced a definitive merger agreement whereby Reliance Steel & Aluminum Co. (Reliance) will acquire all outstanding shares of Metals USA Holdings Corp. (Metals USA) for $20.65 per share in cash, representing an enterprise value of approximately $1.2 billion. The transaction is expected to close in the second quarter of 2013. Metals USAs assets at December 31, 2012 and sales for the year then ended were approximately $1.0 billion and $2.0 billion, respectively. Upon completion of the acquisition, Reliance will have total assets of over $6.5 billion... More
