Nucor Corp. has announced that its wholly owned subsidiary, Harris Steel Inc. has signed a Purchase Agreement to acquire all of the issued and outstanding common shares of Ambassador Steel Corp. based at Auburn in Indiana for a cash purchase price of USD 185,000,000. The transaction will also include the shares of Ambassador’s affiliate, Delta Erecting Inc. Nucor said that the completion of the acquisition is contingent upon receipt of regulatory approvals, satisfactory completion of due diligence, and fulfillment of other customary closing conditions. The transaction is expected to close during the third quarter of 2008.
