WeissLaw LLP Investigates Metals USA Holdings Corp. Acquisition
NEW YORK--(BUSINESS WIRE)-- WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Metals USA Holdings Corp. ("Metals USA" or the "Company") (NYS: MUSA) arising from its agreement for Metals USA to be acquired by Reliance Steel & Aluminum Co. ("Reliance") in an all-cash transaction with an enterprise value of approximately $1.2 billion. Under the terms of the proposed transaction Reliance will buy all outstanding Metals USA stock for $20.65 per share.
WeissLaw LLP is investigating whether Metals USA's Board acted in the best interests of its public shareholders in order to maximize shareholder value for Metals USA's public shareholders, prior to entering into the proposed transaction with Reliance. Notably, prior to the announcement of the deal, several analysts set the price target for Metals USA's stock above the price offered by Reliance. Moreover, Reliance is paying about eight times Metals USA's EBITDA. That is below the median of 8.6 for nine similar deals from the last eight years, according to data compiled by Bloomberg. If you own Metals USA shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Kelly C. Keenan either by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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