Radius Recycling (RDUS) said late Thursday it has agreed to be acquired by Toyota Tsusho America for $30 per share in cash.

The consideration represents a 115% premium to the stock's closing share price on March 12 and implies a total enterprise value, including debt, of $1.34 billion, the company said.

Closing of the deal is expected to occur in H2, subject to shareholder and regulatory approvals and other closing conditions.