Markets & Finance

Nucor to Acquire Birmingham Steel

Nucor (NUE) announces a non-binding agreement to acquire struggling steelmaker Birmingham Steel (BIRS) for $615 million in cash, up from a previous offer of $500 million. The proposed takeover would increase NUE's presence in rebar and merchant products by some 2.0 million tons. (5/21)

Flextronics International (FLEX) offers to acquire NatSteel Broadway, a Singapore supplier of plastics and metal components, for about $364 million in cash. NatSteel Broadway's operations include manufacturing facilities totaling more than 2 million sq. ft. in China. (5/21)

Spectrian Corp. (SPCT) agrees to be acquired by Remec Inc. (REMC) for about $160 million in stock and cash (up to $45 million), valuing each SPCT share at $14. (5/20)

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