Gerdau AmeriSteel Corporation (T.GNA) hit a new 52-week high of $11.75; Gerdau Ameristeel Corporation and Gerdau S.A. announced today that Gerdau S.A. has delivered to the Board of Directors of Gerdau Ameristeel a proposal to acquire all of the shares of Gerdau Ameristeel Corporation that Gerdau S.A. does not already own for $11.00 U.S. cash per share.
This proposal values Gerdau Ameristeel's minority held shares at approximately $1.6 billion U.S. Gerdau S.A. already owns 66.3% of the outstanding shares of Gerdau Ameristeel and intends to fund the acquisition and related expenses through its existing cash resources and committed financing.
Diamond Fields International Ltd. (T.DFI) hit a new 52-week high of 12 cents; no news announcements today
