Gerdau Ameristeel Corp. has announced that its
According to a press release from Gerdau, Sheffield shareholders who own approximately 53 percent of the outstanding shares of the company have agreed to vote in favor of the amended merger agreement, which increased the purchase price, subject to certain closing adjustments, to approximately $94 million in cash plus the assumption of approximately $94 million of debt and certain long term liabilities, net of cash.
The transaction, which is still subject to completion of anti-trust and applicable regulatory reviews and other customary closing conditions, is expected to close in the second quarter of 2006.
Sheffield Steel is a mini-mill producer of long steel products, primarily rebar and merchant bars, with annual shipments of approximately 550,000 tons. Sheffield operates a melt shop and rolling mill in Sand Springs, a smaller rolling mill in

Gerdau Ameristeel is the second largest mini-mill steel producer in
Gerdau Ameristeel’s common shares are traded on the New York Stock Exchange under the symbol NYSE: GNA; and the Toronto Stock Exchange under the symbol GNA.TO.
For additional financial and investor information, visit http://www.gerdauameristeel.com.
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