Toyota Tsusho to acquire Radius Recycling for $907m

Toyota Tsusho Corporation (TSE: 8015) announced today that it has entered into a definitive agreement to acquire all outstanding shares of Radius Recycling, Inc., a NASDAQ-listed recycling company based in Oregon, for $30 per share. This translates to an aggregate equity value of approximately $907 million. The acquisition will be executed via a reverse triangular merger through TAI Merger Corporation, a wholly-owned subsidiary of Toyota Tsusho America.