Olympic Steel rises on deal to buy Shaw Stainless & Alloy

Olympic Steel

01/10/2021 15:45

** Olympic Steel's  ZEUS.O  shares up as much as 1.9% at
$24.8 in early trading
    ** Co acquires the assets of Shaw Stainless & Alloy Inc
(Shaw), in an all-cash purchase which is immediately accretive
 urn:newsml:reuters.com:*:nBw86yBG9a
    ** Terms were not disclosed
    ** Acquisition includes Shaw's stainless steel distribution
and fabrication businesses as well as its architectural and
barrier defense businesses
    ** Stock has nearly doubled YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))