PITTSBURGH and CHICAGO, Oct. 16,
2013 /PRNewswire/ -- TMS International Corp. (NYSE: TMS) and
The Pritzker Organization, L.L.C. (TPO) announced today the
completion of the acquisition of TMS by business interests of
Thomas J. Pritzker and Gigi Pritzker in an all-cash transaction with an
enterprise value of approximately $1
billion.
As previously announced, pursuant to the terms of the merger
agreement, TMS's stockholders are entitled to receive $17.50 in cash, without interest, less any
withholding or other applicable taxes, for each share of TMS common
stock owned by them. As a result of the merger, TMS's shares
will no longer be listed for trading on the NYSE.
BofA Merrill Lynch acted as financial advisor to TMS and Kaye
Scholer LLP advised TMS on legal matters in connection with the
transaction. Goldman Sachs & Co. and J.P. Morgan
Securities LLC acted as financial advisors to TPO and Latham &
Watkins LLP acted as legal advisor to TPO and the business
interests of Thomas J. Pritzker and
Gigi Pritzker.
About TMS International Corp.
TMS International
Corp., through its subsidiaries, including Tube City IMS
Corporation, is the largest provider of outsourced industrial
services to steel mills in North
America as measured by revenue and has a substantial and
growing international presence. TMS provides mill services at 81
customer sites in 12 countries and operates 36 brokerage offices
from which it buys and sells raw materials across five continents.
For additional information, visit www.tmsinternationalcorp.com.
About The Pritzker Organization, L.L.C.
The Pritzker
Organization is the merchant bank for the interests of certain
members of the Pritzker family. TPO's primary focus is
principal investing. For more than 60 years, TPO has
controlled and guided the development of dozens of portfolio
companies across a wide variety of industries, including
manufacturing, logistics, life sciences, hospitality, healthcare
and services. Notable businesses include Hyatt Hotels, Triton
Container and the Marmon Group. In addition to its core
strategy of long-term business building, TPO is also an active
special situations investor, deploying capital across a wide
spectrum of industries and across every tier of the balance sheet,
from senior debt to equity. Additional information can be
found at www.tpo.org.
SOURCE TMS International Corp.