UPDATE 1-Japan's Mitsui acquiring Steel Technologies

Newswire

(Adds details, background, stock price rise) NEW YORK, Feb 28 (Reuters) - Japanese trading house Mitsui & Co. Ltd. said on Wednesday it would purchase U.S. metals processor Steel Technologies Inc. in a deal worth about $400 million, excluding debt. In a joint statement, Mitsui USA and Steel Technologies said they signed a definitive agreement for Mitsui to acquire all outstanding Steel Technologies shares for $30 each. This offer represents a 63 percent premium over the previous ...

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