Techint bids for Hyslamex stock

Techint bids for Hyslamex stock

Steel and energy giant Techint will bid for the remaining 57.5 percent of stock in Mexican steelmaker Hylsamex. The Argentine company will make Tuesday’s offer as part of a $2.25-billion deal to buy the corporation. Techint will bid through its Industrial Investments and Siderar units for 248’106’826 “B” series shares and 101’162’049 “L” series shares in the firm. The offer will remain open from July 26 through August 16 at approximately $3.47 a share. Once its offer for Hysamex has been successfully completed, Techint plans to consolidate its steel businesses into one company it hopes will become Latin America’s leading steel producer.