Swedish specialty steel producer SSAB has announced that it has extended the period of the share exchange offer for all the issued and outstanding shares of Finland-based steelmaker Ruukki to end on June 27, 2014, unless the offer period is extended further or the extended offer period discontinued. The former deadline for the offer period was May 12.
As SteelOrbis previously reported, in January this year the two Scandinavian steel producers agreed to combine the two companies through SSAB making a recommended public share exchange offer amounting to SEK 10.1 billion ($1.55 billion).