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SSAB and Rautaruukki to combine – SSAB makes recommended public exchange offer to the shareholders of Rautaruukki

(2014-01-22)

SSAB has announced a recommended public exchange offer to acquire the Finnish stock market company Rautaruukki. The proposed combination of SSAB and Rautaruukki will be a Nordic and U.S.-based steel company with a global reach and cost-efficient and flexible production. The all-share offer values the outstanding shares in Rautaruukki to approximately SEK 10 billion. The offer is subject to customary closing conditions.

SSAB is one of the leading steel producers in Northern Europe and North America and one of the leading producers of high-strength steels globally. SSAB has a 6 million ton capacity for crude steel per year and has approximately 8,700 employees in 45 countries. SSAB’s shares are listed on NASDAQ OMX Stockholm. Rautaruukki specializes in steel production and steel construction and has approximately 8,700 employees in some 30 countries. Rautaruukki’s shares are listed on NASDAQ OMX Helsinki.

SSAB is advised by Mannheimer Swartling. The firm’s team is led by Klaes Edhall and Thomas Wallinder, primarily assisted by Jessica Holm, Mårten Östberg and Johan Lindström. Nils Nostell is advising in matters regarding offer document and prospectus. Johan Carle and Stefan Perván Lindeborg are handling competition law matters, primarily assisted by Jens Agö, Andreas Johansson and Henrik Andersson. Per Molander is handling environmental law matters, primarily assisted by Felicia Terenius and Karin Bäckström.

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