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Article: Steel Dynamics Completes Acquisition of Roanoke Electric Steel Corporation.
- Article from:
- PR Newswire
- Article date:
- April 12, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORT WAYNE, Ind., April 12 /PRNewswire-FirstCall/ -- Today Steel Dynamics, Inc. announced that it has completed its previously announced acquisition of Roanoke Electric Steel Corporation . The transaction closed on April 11, 2006, immediately following approval of the transaction by Roanoke stockholders.
Pursuant to the Merger Agreement, Roanoke stockholders received $9.75 in cash and 0.4 shares of SDI common stock for each share of Roanoke stock outstanding at the effective date of the merger. Based on 11,360,901 Roanoke shares outstanding prior to the close of the transaction, Steel Dynamics paid $111 million in cash, issued 4,544,360 shares of registered ...