Reliance Steel & Aluminum Co. will go forward to acquire Metals USA. The US government relative department pointed out that the merger already has no doubt of antitrust concerns.
In an early notice under the Hart-Scott-Rodino Antitrust Improvements Act, the Federal Trade Commission indicated that “neither it nor the Department of Justice's Antitrust Division plan to take enforcement action against the deal.” Analyst Chuck Bradford, of Bradford Research Inc, said that there’s little overlap with these two service center networks.
He said, “Even if you’re not buying the same product, if you’re a bigger player, you can make those guys grovel.” Reliance announced on February 6 that it would buy Fort Lauderdale-based Metals USA for $1.2 billion. The company hope to close the deal in Q2, 2013.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63211&division=A9
