Nucor acquisition of Gallatin receives regulatory approval

The Federal Trade Commission (FTC) has approved Nucor Corp.’s $770 million acquisition of Gallatin Steel Co., Ghent, Kentucky. The steel minimill manufactures flat-rolled products and has an annual capacity of 1.8 million tons.

Nucor, headquartered in Charlotte, North Carolina, says it expects to close on the acquisition by the middle of October.

“We are excited to be able to begin the process of integrating Gallatin Steel and our new teammates into the Nucor family,” says John Ferriola, chairman, CEO and president of Nucor. “This acquisition is an important step in the execution of our company's strategy for profitable growth by enhancing Nucor's current position serving flat-rolled customers in the growing pipe and tube segment. It also further strengthens one of our competitive advantages—reliability for our customers.”