Tag Archives: GNA

Buy out offer pumps up GNA shares


Nothing like a buy out offer to fatten up your share price.


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Three weeks ago Gerdau Ameristeel, which has been producing steel in Knoxville for a long time, announced that Brazilian steelmaker Gerdau wanted to buy all of the shares of Gerdau Ameristeel that it didn’t already own. Since then GNA shares have zoomed — rising nearly 40 percent, making it one of the market’s best performing steel companies of the last few months.

On one day alone the company’s stock price soared more than 54 percent.

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