Castle rebuffs Ryerson takeover move

摘要

A.M. Castle & Co.'s board of directors has successfully fended off a possible takeover by rival Ryerson Inc. and Platinum Equity LLC, Ryerson's largest shareholder. Castle filed a Schedule 13D with the Securities and Exchange Commission on Aug. 20 disclosing that Los Angeles-based Platinum Equity, a number of its funds and Chicago-based Ryerson jointly owned nearly 1.4 million shares of Castle's common stock-more than 6 percent of its outstanding shares-valued at $17.4 million.