Japan's Mitsui to buy Steel Technologies

Newswire

NEW YORK, Feb 28 (Reuters) - Mitsui & Co. USA Inc. said on Wednesday it had agreed to buy Steel Technologies Inc. for $30 per share in an all-cash deal valued at about $396 million. The price represents a 63 percent premium over Steel Technologies' Tuesday closing price. Trade in the stock was halted on Wednesday afternoon. Mitsui USA is the largest wholly owned subsidiary of Japanese trading company Mitsui & Co., Ltd. .

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