The deal is done, Gerdau Ameristeel is going private.
Shareholders of Gerdau Ameristeel Corp., which has operated a mill in Knoxville for many years, on Tuesday approved a deal taking the company private.
Brazilian steelmaker Gerdau’s plan to buy all of the shares it did not already own for $11 each was approved by 93 percent of the votes cast in a special shareholders meeting, Gerdau Ameristeel announced.
The deal is expected to be completed by the end of August.
Photo: Knoxville News Sentinel/ Michael Patrick
A section of molten steel is cut to length during the manfacturing of rebar at Gerdau Ameristeel in Knoxville.