Steel Technologies merger with Mitsui clears FTC hurdle; stockholders to vote May 30

By Lisa Kerner

Charlotte, N.C., April 13 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the pending merger of Steel Technologies Inc. and Mitsui & Co. (USA), Inc., a subsidiary of Mitsui & Co., Ltd.

Under the companies' definitive agreement, Steel Technologies' shareholders will receive $30.00 per share in an all-cash transaction, according to a company news release.

Steel Technologies shareholders of record as of April 18 can vote on the merger proposal at a special meeting to be held May 30 in Louisville, Ky., where the steel processing company is based.

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