WCI goes private; SDI goes public

摘要

WCI Steel's majority shareholder is taking the company private. Meanwhile, startup Steel Dynamics Inc. (SDI) is finalizing an initial public-stock offering (IPO). The Renco Group, which owns 84 percent of WCI, proposed to buy out other shareholders in the company in September. Renco offered 10 dollars per share, the original price when the stock was issued in 1994. WCI's board of directors approved the buyout offer in October. The company expected the transaction to be completed before Thanksgiving, a WCI spokesman says. Renco also is refinancing part of WCI's public debt through a private-debt placement.