Tuesday, July 10, 2007

UPDATE 1-Gerdau Ameristeel to buy Chaparral for $4.22 bln

(Reuters) - Gerdau will pay $86.00 per share in cash for shares of
Chaparral. The deal offers shareholders a premium of 13.62
percent, based on Chaparral's closing price of $75.69 a share,
Tuesday on the New York Stock Exchange.




The deal has been unanimously approved by the boards of
both Chaparral and Gerdau, the companies said in separate
statements.


Read more at Reuters.com Mergers News

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