1:42AM July 11, 2007 Chaparral Steel to be acquired by Gerdau Ameristeel for $86.00 per share (CHAP) 75.69 : Co announces that it has entered into a definitive agreement to be acquired by Gerdau Ameristeel (GNA 15.69) for $86.00 per share in cash. The merger agreement was unanimously approved by the Boards of Directors of both companies. Gerdau Ameristeel expects that the transaction will be slightly dilutive to its 2007 and 2008 EPS after considering expected synergies and after taking into effect the contemplated equity issuance.
Chaparral Steel Company produces structural steel and steel bar products in North America. Its structural steel products include wide flange beams, channels, piling products, and other shapes. The company’s steel bar products comprise specialty bar products and reinforcing bars. It manufactures approximately 230 different types, sizes, and grades of structural steel and steel bar products. The company serves steel service centers and steel fabricators for use in the construction industry, cold finishers, forgers, and original equipment manufacturers for use in the railroad, defense, automotive, manufactured housing, and energy industries. It markets its products in the United States, Canada, Mexico, and Europe. Chaparral Steel was founded in 1973 and is headquartered in Midlothian, Texas.
Chaparral Steel Company
300 Ward Road
Midlothian, TX 76065
United States - Map
Web Site: http://www.chapusa.com