Chaparral Steel (CHAP) Stockholders Approve Merger Agreement With Gerdau Ameristeel
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Chaparral Steel Company (Nasdaq: CHAP) announced that its stockholders at a special meeting held in Dallas, Texas adopted the merger agreement under which Chaparral is to be acquired by Gerdau Ameristeel Corporation. Approximately 99.7% of the shares voted were cast in favor of the merger. The number of shares voted in favor of the merger represented approximately 75% of the total shares outstanding and entitled to vote at the meeting.
Chaparral also announced that it expects the merger will be consummated on Friday, September 14, 2007.
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