Quanex Spin-Off and Merger Complete

Quanex Corp., the parent company of Truseal Technologies, Mikron Industries and Homeshield, has announced the completion of the spin-off of its Building Products business to its stockholders and the subsequent merger of Quanex with a subsidiary of Gerdau S.A. In the spin-off, Quanex stockholders received one share of Quanex Building Products Corp. for each share of Quanex Corp. owned on the record date of April 23. For the merger consideration, shareholders of record received $39.20 per share. (CLICK HERE for related story)

Approximately 90 percent of the company’s shares were represented at the meeting, held earlier this week, and more than 99 percent of the shares voted for the merger.

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