The billionaire Pritzker family will purchase scrap mill servicing company TMS International Corp for about $687 million in cash.The offer of $17.50 from the Pritzker Organization represents a premium of about 12 percent to TMS's Friday close of $15.57. Including debt, the deal is valued at about $1 billion.The Pritzker Organization is a merchant bank run by certain members of Chicago's Pritzker family, which controls Hyatt Hotels, Triton Container and the Marmon Group.TMS, controlled by Canada's Onex Group, helps steel mills buy and sell scrap and manage slag, a by-product of the steel making process. It operates 36 brokerage offices across five continents.
Hyatt Hotels Corporation (Hyatt) is a global hospitality company. Shares of H remained unchanged at $44.50. In the past year, the shares have traded as low as $33.73 and as high as $47.01. On average, 298103 shares of H exchange hands on a given day and today's volume is recorded at 0.
Shares of TMS remained unchanged at $15.57. In the past year, the shares have traded as low as $9.62 and as high as $17.29. On average, 59142 shares of TMS exchange hands on a given day and today's volume is recorded at 0.
Source
