Live Ventures: Rises on deal to buy independent steel company

Live Ventures

15/07/2020 19:42

** Shares of holding company  LIVE.O  rise 6.6% to $9.8
    ** Co to buy Washington, Pennsylvania-based Precision
Industries Inc, an independent manufacturer of premium tool
steels and specialty alloys, for $31.5 mln in cash
    ** Says acquisition is expected to increase its consolidated
revenues by about $50 mln per year  urn:newsml:reuters.com:*:nGNX4ZBbYx
    ** Thomas Sedlak, who joined Precision Marshall in 2008 and
most recently served as senior vice president, will now be its
CEO
    ** Says all current employees are expected to be retained
through the deal
    ** Including session's gains, stock up ~17% YTD

 (Reporting by Nilanjana Basu)
 ((Nilanjana.Basu@thomsonreuters.com;))