Brazilian steelmaker Grupo Gerdau SA is in advanced talks about taking over Chaparral Steel Co, a well-placed source said. A spokesman for Gerdau Ameristeel Corp in Florida refused to confirm or deny whether talks over a potential acquisition of the Texan company were taking place. "I am not at liberty to comment on such a matter," Steven Hendricks, director of corporate communications and public affairs, said last week. "However, I will be more than happy to share any 'confirmed' information with you once it is available." Grupo Gerdau, based in Porto Alegre, Brazil, is the parent company of Gerdau Ameristeel. Gerdau did not specifically deny that talks were taking place either. "The Gerdau Group doesn't comment on specific situations but keeps looking for new opportunities," a Gerdau spokeswoman stated.
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