Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI) - MarketLine Financial Deals

Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI)

Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI) - MarketLine Financial Deals
Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI)
Published Jul 01, 2011
2 pages — Published Jul 01, 2011
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...Olympic Steel, Inc. has acquired all of the outstanding common shares of Chicago Tube and Iron Company (CTI). Olympic Steel is a processor and distributor of flat-rolled carbon, stainless and tubular steel products, while CTI is a steel service centre engaged in inventory, fabrication and processing. Both the companies are based in the US. Announcement (May 18, 2011): Olympic Steel has entered into an agreement to acquire all of the outstanding common shares of CTI for a consideration of $150 million in cash, plus the assumption of approximately $6 million of indebtedness. The consideration is subject to a cash and working capital adjustment. Following the transaction, CTI will become a wholly-owned subsidiary of Olympic. The transaction is expected to be close on or about July 1, 2011. Target Chicago Tube & Iron Company Acquirer Olympic Steel, Inc. Deal status Completed Deal value ($m) 156 Deal category Acquisition Deal sub-category 100% acquisition Date of announcement May 18, 2011 Date...

  
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MA63042_110520
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MLA:
MarketLine Financial Deals. "Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI)" Jul 01, 2011. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Olympic-Steel-acquires-100-stake-in-Chicago-Tube-and-Iron-Company-CTI-2052-61119>
  
APA:
MarketLine Financial Deals. (2011). Olympic Steel acquires 100% stake in Chicago Tube and Iron Company (CTI) Jul 01, 2011. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Olympic-Steel-acquires-100-stake-in-Chicago-Tube-and-Iron-Company-CTI-2052-61119>
  
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