STEVENSON, Md. -- (Business Wire)
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Metals USA Holdings Corp.
(“Metals USA” or the “Company”) (NYSE: “MUSA”) and other violations of
state law by the board of directors of Metals USA relating to the
proposed acquisition of the Company by Reliance Steel & Aluminum Co.
(“Reliance”). The firm’s investigation seeks to determine, among other
things, whether the board of directors of Metals USA breached their
fiduciary duties by failing to maximize shareholder value.
Under the terms of the proposed transaction, Metals USA shareholders
will receive $20.65 for each share of Metals USA common stock they own,
representing an enterprise value of approximately $1.2 billion.
According to Yahoo! Finance, the high analyst price target is $21.00 per
Metals USA share. According to Bloomberg, the EBITDA, EBIT, revenue, and
free cash flow multiples for the proposed transaction are below those of
If you currently own common stock of Metals USA and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
Brower Piven, A Professional Corporation
J. Piven, 410-415-6616
Source: Brower Piven, A Professional Corporation
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