Tag: M&A

Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.

Commercial Metals Co. (CMC) will acquire Newman, Ga.-based Foley Products Co. for $1.48 billion, making it the number three US precast concrete producer.

Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.

Varsteel Ltd. announced two new strategic acquisitions. The Canadian service center stated that the acquisitions position it to meet a wider range of steel product needs.

Karla Lewis, president and CEO of Reliance Inc., told attendees of SMU’s Steel Summit 2025 that North America’s largest service center company is eyeing strategic opportunities in Mexico. 

Panelists laid out what they look for in mergers and acquisitions at SMU Steel Summit 2025 on Tuesday in Atlanta.

SunCoke Energy completed its previously announced $325-million acquisition of Phoenix Global on Friday, Aug. 1.

Independent galvanizer and coil coater AZZ Inc. has agreed to acquire Canton Galvanizing LLC.

Worthington Enterprises acquires HVAC products maker Elgen Manufacturing.

President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.

The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

SunCoke Energy has purchased Phoenix Global, a metals and mining services company, for $325 million.

President Donald Trump on Friday gave his blessing to a $14-billion "partnership" between Nippon Steel and U.S. Steel.

POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.

South Korea’s POSCO is eyeing linking up with Hyundai Steel in the project to build a steel plant in Louisiana, according to media reports.

Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”

Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.

The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.

Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."

Nucor Corp.’s chief executive didn’t shy away from discussing the company’s interest in potentially acquiring the electric-arc furnace assets of U.S. Steel on Tuesday. An analyst on an earnings conference call asked about Nucor’s appetite for M&A given its strong cash position – $4.1 billion at the end of 2024. Chair, President, and CEO Leon […]

Alan Kestenbaum, the founder of Bedrock Industries and the former CEO of Stelco, will be the featured speaker on the next SMU Community Chat. The webinar will be on Wednesday, Jan. 22, at 11 am ET. It’s free to attend. You can register here. We’ll look at Stelco’s recent sale to Cleveland-Cliffs and what made […]

Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.

Alkar Steel and Processing supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products throughout the Midwest.

Russel Metals Inc. has closed on its buy of Tampa Bay Steel.

Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.

Tampa Bay Steel, a Florida-based steel distributer and metal processer, generated average annual revenues of about US$115 million

Cleveland-based Olympic Steel announced its first acquisition of 2024, Georgia-based components manufacturer Metal Works.

Canada’s Stelco Holdings Inc. is now officially owned by Cleveland-Cliffs Inc.

Cleveland-Cliffs has received all the required approvals to finalize its $2.5-billion acquisition of Canadian steelmaker Stelco Holdings Inc.

AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.