The parties completed the $600 million transaction after regulatory review by the U.S. Department of Justice.
Retained by Cleary Gottlieb
Counsel for Commercial Metals Company (CMC) retained Aviv Nevo of the University of Pennsylvania and Cornerstone Research to assist with the DOJ’s regulatory review of CMC’s proposed $600 million acquisition of certain U.S. rebar steel mill and fabrication assets from Brazilian-headquartered producer Gerdau S.A.
Cornerstone Research supported Professor Nevo, who evaluated the transaction’s competitive effects. The deal combined two of the three largest producers of rebar in the United States.
CMC announced the acquisition in January 2018, and the transaction closed in November 2018 after the DOJ granted approval.