View Full Version : Today's Merger Opportunity - MUSA

09-13-2005, 10:34 AM
As a public service, here's today's merger arbitrarge opportunity, Metals USA (MUSA)

Apollo Management L.P. (private), Metals USA Inc. (MUSA)

Current discount: $1.08 or 4.9%
Acquirer: Apollo Management
Target: MUSA
Offer per share: $22
Value of outstanding common equity: $446,600,000
Target share price: $20.92
Expected closing: Third quarter
Annualized gain: N/A

What makes it interesting is this announcement this morning:

HOUSTON--(BUSINESS WIRE)--Sept. 12, 2005--

Metals USA, Inc., (Nasdaq:MUSA) today announced that a special meeting of stockholders is to take place on Wednesday, October 19, 2005, 10:00 a.m. (EDT) at the offices of Akin Gump Strauss Hauer & Feld LLP, 590 Madison Avenue, New York, New York to consider and vote on a proposal to adopt the Agreement and Plan of Merger, dated as of May 18, 2005, by and among Metals USA, Inc., Flag Holdings Corporation and Flag Acquisition Corporation. Stockholders of record as of the close of business on Tuesday, September 13, 2005, will be entitled to vote at the special meeting. The Company expects to file promptly its definitive proxy statement with the Securities and Exchange Commission. Investors and security holders may obtain a free copy of the definitive proxy statement (when available) and other documents filed by Metals USA at the Securities and Exchange Commission's website at http://www.sec.gov. The definitive proxy statement (when available) and such other documents may also be obtained for free from Metals USA's website at www.metalsusa.com (http://www.metalsusa.com) under the Investor Relations Tab or by directing such request to Metals USA, Attention: Investor Relations, One Riverway, Suite 1100, Houston, Texas 77056. The Company will also mail the definitive proxy statement to all holders of record as of the record date.

Metals USA, Inc. is a leading metals processor and distributor in North America providing a wide range of products and services in the Carbon Plates and Shapes, Flat-Rolled Products, and Building Products markets.

This press release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those disclosed in the Company's periodic filings with the Securities and Exchange Commission.

Source: Metals USA, Inc.

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This deal has been hung up for some time, now it's finally going forward. Still a chance it may not happen, do your own research. I just point them out, I don't guarantee them. Yes, I own the stock.