Reliance Skirts Bid To Block $1.2B Metals USA Deal

Law360, Los Angeles (April 8, 2013, 9:50 PM EDT) -- A Florida federal judge on Monday refused to issue an injunction in a suit brought by Metals USA Holdings Corp. minority shareholder Savior Associates against Reliance Steel & Aluminum Co. and a private equity firm seeking to bar Reliance Steel from merging with Metals USA in a $1.2 billion acquisition.

Savior Associates filed suit shortly after Reliance Steel announced in early February that it would bring Metals USA into its fold with a $1.2 billion deal that included stock buys and debt absorption. Savior associates alleged,...
To view the full article, register now.