IPSCO Inc. and NS Group, Inc. jointly announced today the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed merger of NS Group with a wholly owned subsidiary of IPSCO Inc.
The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to IPSCO's acquisition of NS Group. The merger is expected to occur by the end of this year. The merger remains subject to other customary closing conditions, including approval of the merger by NS Group's shareholders.
IPSCO operates steel mills at three locations and pipe mills at six locations in the United States and Canada. IPSCO is a low cost North American steel producer, and has a combined annual steel making capacity of 3.5 million tons.
NS Group produces tubular products serving the energy industry and certain industrial markets.
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