TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who started this subject	5/21/2002 10:44:41 AM
From: Jim Bishop	of 150070

BIRS Nucor offers $615 mln to buy Birmingham Steel NEW YORK, May 21 (Reuters) - Troubled Birmingham Steel Corp. (OTC BB:BIRS.OB - News) on Tuesday signed an exclusive agreement to be bought by bigger rival Nucor Corp. (NYSE:NUE - News) for $615 million in cash, Nucor said. The agreement, however, is nonbinding and talks could still fall apart. Nucor had earlier made an unsolicited approach to buy Birmingham Steel for $500 million. A source familiar with the situation told Reuters that part of the proceeds will be used to pay some of Birmingham Steel's lenders and also pay 47 cents for each share held by Birmingham Steel shareholders.

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