Gerdau Ameristeel shareholders approve plan of arrangement
25 8월 2010 - 2:45AM
PR Newswire (Canada)
TORONTO, Aug. 24 /CNW/ -- TORONTO, Aug. 24 /CNW/ - Gerdau
Ameristeel Corporation (TSX: GNA, NYSE: GNA) and Gerdau S.A.
(Bovespa: GGBR, NYSE: GGB, Latibex: XGGB) announced today that
Gerdau Ameristeel's shareholders passed a special resolution to
approve an arrangement under the Canada Business Corporations Act
involving, among other things, the acquisition by Gerdau S.A. of
all of the issued and outstanding common shares of Gerdau
Ameristeel not already owned, directly or indirectly, by it for
US$11.00 in cash for each common share. The special resolution was
approved by approximately 93% of the votes cast by holders of
common shares and approximately 74% of the votes cast by "minority"
holders of common shares (shareholders other than Gerdau S.A. and
its related parties) at Gerdau Ameristeel's special meeting of
shareholders. It is expected that the arrangement will be completed
in August 2010, following the receipt of court approval and the
satisfaction of other customary conditions. About Gerdau S.A.
Gerdau S.A. is the leading producer of long steel in the Americas
and one of the world's largest suppliers of special long steel. It
has plants in 14 countries spanning the Americas, Europe and Asia,
with total installed capacity of more than 25 million metric tons
of steel. It is the largest recycler in Latin America, transforming
millions of metric tons of scrap into steel every year. With over
140,000 shareholders, Gerdau S.A.'s publicly-held companies are
listed in the stock exchanges of São Paulo (Bovespa: GGBR4, GGBR3,
GOAU4, GOAU3 and AVIL3), New York (NYSE: GNA, GGB), Toronto (TSX:
GNA), Madrid (Latibex: XGGB) and Lima (BVL: SIDERC1). About Gerdau
Ameristeel Gerdau Ameristeel is the second largest mini-mill steel
producer in North America, with annual manufacturing capacity of
approximately 10 million metric tons of mill finished steel
products. Through its vertically integrated network of mini-mills,
scrap recycling facilities and downstream operations, Gerdau
Ameristeel serves customers throughout the United States and
Canada. The Company's products are generally sold to steel service
centers, steel fabricators, or directly to original equipment
manufacturers for use in a variety of industries, including
non-residential, infrastructure, commercial, industrial and
residential construction, metal building, manufacturing,
automotive, mining, cellular and electrical transmission and
equipment manufacturing. Gerdau Ameristeel's majority shareholder
is Gerdau S.A. Forward Looking Statements This release contains
forward-looking statements relating to the acquisition by Gerdau
S.A. of the shares of Gerdau Ameristeel that Gerdau S.A. does not
already own, including statements regarding the completion of the
proposed transaction and other statements that are not historical
facts. Such forward-looking statements are subject to important
risks and uncertainties including, without limitation, court
approvals and the satisfaction or waiver of certain other
conditions contemplated by the definitive arrangement agreement. As
a result of these risks and uncertainties, the proposed transaction
could be modified, restructured or not be completed, and the
results or events predicted in these forward-looking statements may
differ materially from actual results or events. These
forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties.
Gerdau S.A. and Gerdau Ameristeel do not assume and expressly
renounce any obligation to update any of these forward-looking
statements, which are only applicable on the date on which they
were made. Additionally, Gerdau S.A. and Gerdau Ameristeel
undertake no obligation to comment on expectations of, or
statements made by third parties in respect of the proposed
transaction. %SEDAR: 00000593E Investor Relations Contacts: Osvaldo
Burgos Schirmer, Executive Vice President, Director of Investor
Relations, Gerdau S.A., Office: +55 51 3323-2703, Email:
inform@gerdau.com.br; Barbara R. Smith, Vice President and Chief
Financial Officer, Gerdau Ameristeel Corporation, Office: (813)
319-4324, Email: basmith@gerdauameristeel.com
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