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SmellyCat

Nucor $1.07 billion acquisition

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nowensone    144

Sounds like a good merger in that it is not so monopolistic as it is a vertical addition, and allows Nucor to get into a couple of new markets, but my question is, how does a purchase like this get regulated (since Harris Steel is a Canadian company)?

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orulz    106

Perhaps this will add a job or two at Nucor's headquarters, but Nucor's famous policy of decentralized management means they delegate nearly all managerial duties to the individual subsidiaries, rather than retaining a large staff at HQ. It's likely that they'll keep most of Harris's managerial staff as it is and where it is after this acquisition.

Despite their $12+ billion in annual revenues, Nucor reportedly employs just 66 people at their main office in Charlotte. In this respect, it seems that Nucor behaves almost as a holding company rather than as an actual manufacturer of steel.

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uptownliving    299

I remember reading a blurb about this when I was in Vancouver a few weeks ago. It was in the local Vancouver paper as a rumor of a potential merger.

As a side note everyday I was out there, I saw a blurb about Charlotte or North Carolina either in their local paper or on their local news. Also found out that Duke Energy has a skyscraper right in downtown Vancouver.

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monsoon    0

There are at least two steel foundries in Charlotte. One on Hwy 115 just north of Harris Blvd. It reprocesses scrap steel into new steel and the glow of the blast furnaces can be seen from the hwy. The other is on Wilkinson Blvd. (not sure what they do) Is Nucor responsible for either of these operations?

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