Breaking News Bar
updated: 8/26/2013 7:21 AM

Pritzker family buying TMS in $1B deal

hello
Success - Article sent! close
 
Associated Press

PITTSBURGH -- TMS International is selling itself to members of the Pritzker family in a cash deal it valued at about $1 billion including refinanced third-party debt.

Pittsburgh-based TMS provides industrial services to steel mills. The Pritzker family, one of America's wealthiest, operates a global industrial conglomerate and founded the Hyatt chain of hotels.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

TMS stockholders will get $17.50 in cash for each share of their TMS Class A and Class B common stock. The price represents a 12 percent premium over the company's Friday closing stock price.

TMS says the deal boosts returns for its shareholders and positions it to expand its globally as a privately held company.

The deal has been approved by TMS' board and is expected to close in the fourth quarter.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.