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Russel Metals Inc Announces Execution Of Apex Distribution Agreement


Wednesday, 24 Oct 2012 07:31pm EDT 

Russel Metals Inc announced that it has entered into an agreement to acquire Apex Distribution Inc. and related companies. The acquisition is expected to close in November 2012. The total purchase price will include a cash payment to shareholders, debt reduction and a five year earnout. The $225 million cash payment at closing will consist of approximately $175 million to shareholders and approximately $50 million to extinguish Apex Distribution's net debt. The earnout will be paid over five years based on earnings before interest and taxes and return on net assets. 

Company Quote

33.14
-0.2 -0.60%
23 Jul 2014