Davis Polk Guides Reliance In $1.2B Deal For Metals USA

Law360, New York (February 6, 2013, 2:24 PM EST) -- Reliance Steel & Aluminum Co. is bringing Metals USA Holdings Corp. into its fold with a $1.2 billion deal that includes stock buys and debt absorption, significantly bolstering its position in the metals service industry, the companies announced Wednesday.

To purchase Metals USA's outstanding stock for $20.65 per share and refinance debt tied to the company, Reliance plans to use an existing $1.5 billion credit facility and will also reach out to capital and debt markets, it said. The merger will add nearly a quarter more...
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