Sumitomo to Buy Edgen Group at $12/Share in Cash

Sumitomo Corporation (“SC”) and Sumitomo Corporation of America, Inc. (“SCOA”), collectively “Sumitomo”, and Edgen Group Inc. EDG today announced the signing of a definitive merger agreement whereby Sumitomo will acquire all outstanding shares of Edgen Group Inc. (“Edgen Group”) for US$12.00 per share in cash (“acquisition”). The acquisition, which is expected to close before the end of 2013, is subject to customary closing conditions and regulatory approvals. “The investment in Edgen Group will represent further expansion of Sumitomo's distribution presence across the upstream, midstream, and downstream oil and gas markets, and other related energy and infrastructure segments and will complement Sumitomo's integrated supply solutions to the growing energy market,” said See full press release