McGuireWoods advises Esmark Incorporated with $1.25 billion merger transaction

June 26, 2008

Esmark Incorporated, one of the world's fastest growing steel services companies, has entered into a definitive merger agreement to be acquired by OAO SeverStal for $19.25 per share—representing an overall transaction including debt valued at approximately $1.25 billion. McGuireWoods is a legal and M&A advisor to Esmark for the transaction. The offer and related transactions contemplated by the merger agreement are subject to the satisfaction of customary closing conditions. In addition to the merger agreement, SeverStal has entered into an agreement to purchase Esmark’s aggregate $110 million term loan facilities from Essar Steel Holdings Limited.

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