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South Africa's Macsteel Holdings Group could have its sights set on acquiring Ryerson Tull Inc.
Eric Samson, the co-chairman and owner of privately held Macsteel, said in an April 24 Securities and Exchange Commission filing that he may propose "entering into one or more transactions" with Ryerson, including a friendly merger. Samson owns 7.15% of Ryerson, a Chicago-based metals distributor.
Samson did not return several calls for comment.
Lloyd O'Carroll, an analyst at Richmond, Va.-based BB&T Capital Markets, said Samson has long coveted Ryerson, the largest steel processing and distribution company in the U.S.
"Both companies basically do the same things, and Samson would be able to lower costs and take advantage of a larger customer base,"...