Russel Metals Inc. has received a no-action letter from the Canadian Competition Bureau regarding the transaction with Samuel, Son & Co., Limited (Samuel), whereby it agreed to acquire seven service center locations from Samuel. Therefore, subject to completion of customary closing conditions, it expects to close the full transaction in Q3 2024.
John Reid, President and CEO of Russel Metals commented, “We are pleased to have obtained regulatory clearance, as we think the acquisition will be favourable for our customers, suppliers, employees and the communities in which we operate. We are now working on the next stage of the transaction, as we plan for closing and look forward to welcoming the Samuel employees into the Russel family.”
