Reliance Steel signs agreement with EMJ
Reliance Steel & Aluminum Co. and Earle M. Jorgensen Company jointly announced that they have stepped into a definitive merger agreement, through which Reliance will acquire EMJ for $13.00 per share in cash and stock. This momentous transaction is valued at approximately $934 million, including the supposition of EMJs net debt. Reliance will have total assets of approximately $3 billion and annual revenues of more than $5 billion once the merger is finalized. This will be Reliances greatest acquisition, adding 39 facilities in the United States and Canada.