BlueScope Steel completes Butler acquisition

BlueScope Steel completes Butler acquisition

Australian steel producer BlueScope Steel announced today that it completed acquisition of Butler Manufacturing Company. As previously reported by SteelOrbis, BlueScope Steel intends to buy Butler Manufacturing Company, a leading provider of pre-engineered building systems. However, the acquisition was subject to approval of Butler shareholders. BlueScope Steel offered paying $143 million to Butler shareholders and taking on the debt of $60 million. BlueScope Steel, receiving the approval of Butler shareholders at the meeting held yesterday, completed the acquisition of the company. With the acquisition, BlueScope Steel broadening range of its products now may serve wider mass of customers.