BUZZ-Radius Recycling more than doubles on $1.3 billion buyout deal with Toyota Tsusho America

Reuters03-13

** Radius Recycling's RDUS.O shares jump 110.5% to $28.75 in extended trade

** Recycled metal products maker says it will be acquired by the U.S. subsidiary of Toyota Tsusho in a $1.34 billion deal

** Toyota Tsusho America will acquire all RDUS shares for $30 apiece, a 119.6% premium to stock's last close

** Transaction expected to close in the second half of calendar year 2025

** Deal will bring together two companies focused on increasing recycling and reducing waste across the industrial, manufacturing, and retail sectors

** Upon deal close, RDUS will continue to operate from its current headquarters in Portland, Oregon

** As of last close, RDUS stock down 10.3% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment