Powered by

Onex sells TMS to Pritzker family for $1B

Aug 26, 2013 - The Deal Pipeline

An organization affiliated with the Pritzker family said Monday it would acquire steel mill services company TMS International Corp. for about $1 billion in cash and assumed debt.

Terms of the deal call for merchant bank Pritzker Organization LLC to pay $17.50 per share for TMS, a premium of about 12% to the Pittsburgh-based target's Friday close. The deal values TMS's equity at about $687 million, and also includes more than $300 million in debt.

TMS is a provider of outsourced ...