Shareholders Foundation, Inc.

NYSE:MUSA Investor Alert: Investigation of Takeover of Metals USA Holdings Corp

An investigation on behalf of investors of Metals USA Holdings Corp (NYSE:MUSA) in connection with the proposed takeover was announced and NYSE:MUSA stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 02/11/2013 -- An investigation on behalf of investors in Metals USA Holdings Corp (NYSE:MUSA) shares was announced concerning whether the offer by Reliance Steel & Aluminum Co. to acquire Metals USA Holdings Corp for $20.65 per NYSE:MUSA share and the takeover process are unfair to investors in Metals USA Holdings.

Investors who purchased shares of Metals USA Holdings Corp (NYSE:MUSA) prior to Feb. 6, 2013, and currently hold any of those NYSE:MUSA shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Metals USA Holdings Corp (NYSE:MUSA breached their fiduciary duties owed Metals USA Holdings Corp (NYSE:MUSA investors in connection with the proposed acquisition.

On Feb. 6, 2013, Reliance Steel & Aluminum Co. (NYSE:RS) and Metals USA Holdings Corp. (NYSE:MUSA) announced a merger agreement whereby Reliance Steel & Aluminum Co. will acquire all outstanding shares of Metals USA Holdings Corp. for $20.65 per share in cash, representing an enterprise value of approximately $1.2 billion.

However, given that certain investment funds affiliated with Apollo Global Management, LLC (NYSE:APO), which own approximately 53% of the outstanding shares of Metals USA Holdings Corp. (NYSE:MUSA)common stock, have already entered into a Voting Agreement pursuant to which they have agreed to vote in favor of the merger, the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:MUSA stockholders.

Furthermore, at least one analyst has set the high target price for NYSE:MUSA shares at $21.00 per share. In additional, Metals USA Holdings’ financial performance improved over the past recent years. For instance, it reported that its annual Revenue rose from over $1.09 billion in 2009 to over $1.88 billion in 2011 and its Net Income increased over the same time periods from $11.5 million to $64.6 million. Shares of Metals USA Holdings Corp (NYSE:MUSA) grew from $8.69 per share in October 2011 to $18.59 per share in January 2013.

Therefore, the investigation focuses on whether the Metals USA Holdings Corp (NYSE:MUSA Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Metals USA Holdings Corp (NYSE:MUSA), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com