Brazilian magazine Exame reported Wednesday that Latin American steelmaker Ternium has offered to pay 40 reais (US$22.6) per share to current stakeholders Camargo Correa and Grupo Votorantim to acquire their combined 26 percent stake in Brazilian flat rolled steelmaker Usiminas.
Ternium's reported offer price is an approximately 70 percent premium of the current value of Usiminas' shares as of Wednesday evening. Exame's reports also indicate that Camargo and Grupo Votorantim have already voiced their willingness to sell their stakes at Ternium's offer price.