Our Website Uses Cookies 

We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.

For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Covington Advises UBS on Ryerson Acquisition


NEW YORK, NY, July 24, 2007 — Ryerson Inc. announced today that it has entered into a definitive merger agreement to be acquired by Platinum Equity, a leading private equity firm, in a transaction valued at approximately $2 billion. Under the terms of the agreement, an affiliate of Platinum Equity will acquire all of the outstanding shares of Ryerson common and convertible preferred stock for $34.50 per share in cash. Covington & Burling LLP advised UBS Investment Bank, financial advisor to Ryerson, on the transaction.

Ryerson is a leading distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. Platinum Equity is a global private equity firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, industrials, logistics, manufacturing, and entertainment distribution. UBS provides investment banking and securities, wealth management, asset management, and retail and corporate banking services worldwide.

The Covington corporate team, based in New York, included partner J. D. Weinberg, associate Frank London, and summer associate Jenna Steinhauer.

Share this article: