Oz Management buys more shares of Metal Management ahead of shareholder vote

By Lisa Kerner

Charlotte, N.C., March 3 - Investors led by Oz Management LP bought 875,877 shares of Metal Management Inc. stock between Jan. 2 and Feb. 29 priced from $43.12 to $63.27 each.

The investors beneficially own 1,852,046 shares, or 7.08%, of the company's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

Stockholders of the Chicago metal recycler are set to vote on the company's proposed merger with Sims Group Ltd. at a special meeting on March 14. Sims is a metal recycler based in Sydney, Australia.

It was previously reported that under the companies' Sept. 24 definitive agreement, Metal Management stockholders will receive 2.05 Sims American Depositary Receipts for each share of Metal Management.

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