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Last updated 4:22PM ET
March 7, 2021
Alabama
Alabama
Nucor Makes Offer for Harris Steel
(2007-01-02)
(APR - Alabama Public Radio ) - North Carolina-based steel products maker Nucor says it is offering to pay nearly one-point-one (b) billion dollars Canada's Harris Steel Group. Its board is recommending that shareholders accept the all-cash offer. Nucor is offering 39 dollars, 69 cents for each Harris Steel share, a six percent premium over Harris' closing price on Friday. According to a statement, the tender offer will be open for at least 35 days and has the support of the boards of both companies. The merger would require regulatory approval in the U-S and Canada. The company, which specializes in mini-mills, or facilities that recycle scrap metal into steel products, also operates plants in Decatur, Tuscaloosa and Birmingham.

(Copyright 2007 by The Associated Press. All Rights Reserved.)
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