Seeking Alpha

Pritzker to acquire TMS in $1B deal

  • The Pritzker Organization (TPO) has reportedly agreed to acquire TMS International (TMS), a provider of procurement and other services to steel mills, for $1B, including around $300M in debt.
  • The offer of $17.50 a share represents a 12.4% premium to the stock's closing price of $15.57 on Friday.
  • TPO, which is the investment firm of billionaire Tom Pritzker, is acquiring TMS after winning an auction. The latter's main owner is Canadian private-equity firm Onex (ONEXF.PK) with a 60% stake.
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