January 2, 2018 / 11:14 AM / 6 months ago

BRIEF-Commercial Metals Company To Acquire Certain U.S. Rebar Assets From Gerdau for $600 Mln In Cash

Jan 2 (Reuters) - Commercial Metals Co:

* COMMERCIAL METALS COMPANY TO ACQUIRE CERTAIN U.S. REBAR ASSETS FROM GERDAU

* COMMERCIAL METALS CO - DEAL FOR CASH PURCHASE PRICE OF $600 MILLION

* COMMERCIAL METALS CO - DEAL IS EXPECTED TO BE ACCRETIVE TO EARNINGS AND CASH FLOW WITHIN FIRST YEAR AFTER TRANSACTION CLOSES

* COMMERCIAL METALS CO - ‍COMBINED OPERATIONS ARE EXPECTED TO GENERATE APPROXIMATELY $40 MILLION IN PRE-TAX OPERATIONAL SYNERGIES ANNUALLY​

* COMMERCIAL METALS CO - ‍COMBINED OPERATIONS ARE EXPECTED TO GENERATE APPROXIMATELY $40 MILLION IN PRE-TAX OPERATIONAL SYNERGIES ANNUALLY​

* COMMERCIAL METALS CO - ‍TRANSACTION HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF BOTH COMMERCIAL METALS COMPANY AND GERDAU S.A.​

* COMMERCIAL METALS CO - ACQUISITION IS EXPECTED TO BE ACCRETIVE TO EARNINGS AND CASH FLOW WITHIN FIRST YEAR AFTER TRANSACTION CLOSES

* COMMERCIAL METALS - TRANSACTION SUPPORTED BY FULLY COMMITTED $600 MILLION LONG-TERM FACILITY

* COMMERCIAL METALS CO - ‍ CMC WILL HAVE APPROXIMATELY 7.2 MILLION TONS OF GLOBAL MELT CAPACITY AT CLOSE OF TRANSACTION​ Source text for Eikon: Further company coverage:

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