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 Quanex Announces Closing Date for Spin-off and Merger

Houston-based Quanex Corp., the parent company of Truseal Technologies, Mikron Industries and Homeshield, announced on March 31 that its Board of Directors has set April 23, 2008, as both the shareholder of record date and the distribution date for the spin-off of its Building Products business, which is to be immediately followed by the merger of Quanex with a subsidiary of Gerdau S.A. for $39.20 per common share. The merger is subject to the Company receiving stockholder approval at the special meeting of stockholders scheduled for April 22, 2008.

CLICK HERE for previous story about the spin-off of the building products business.

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