SSAB Announce Expiration of Hart-Scott-Rodino Waiting Period
June 13, 2007 - SSAB Svenskt Stål AB (SSAB) announced today the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed plan of arrangement pursuant to which SSAB would acquire IPSCO for a cash consideration of U.S. $160 per share.
The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to SSAB's acquisition of IPSCO. Consummation of the plan of arrangement, which is expected to occur in the third quarter of 2007, remains subject to other customary closing conditions, including approval of the plan of arrangement by IPSCO's shareholders and obtaining certain regulatory approvals.
For more information about SSAB, log on to http://www.ssab.com.
For more information about IPSCO, log on to http://www.ipsco.com