Radius Recycling to be acquired by U.S. subsidiary of Toyota Tsusho

Radius Recycling (RDUS) has entered into a definitive merger agreement with Toyota Tsusho America, or TAI, a U.S. subsidiary of Toyota Tsusho, or TTC, under which TAI will acquire all shares of Radius for $30.00 per share in cash, representing an approximate 115% premium to Radius’ closing share price on March 12, and an approximate 102% premium over the 90-day volume-weighted average share price. Upon completion of the transaction, Radius will continue to operate from its current headquarters in Portland, Oregon with its teams, operating facilities, strategy, and brands retained. TTC, an affiliate of the Toyota Group (TM), is a Japanese trading company headquartered in Nagoya and Tokyo with approximately $65B in global revenue and 70,000 employees worldwide. The implied total enterprise value of the transaction, including net debt, is approximately $1.34B. The transaction is expected to close in the second half of calendar year 2025, subject to approval by Radius’ shareholders, regulatory approvals, and other customary closing conditions.