Bears running the show
The Russell 2000 and the Dow have extended their losses in afternoon trading. At 2:51 p.m. ET the Russell 2000 had shed 5.81 points, or 0.69%, to 834.00. The Dow Jones Industrial Average was down 118.60 points, or 0.88%, to 13,427.24.
Shares of Novamerican Steel Inc. (Nasdaq: TONS) have gained strength following news that the Canadian distributor of steel and aluminum products has agreed to be purchased by Symmetry Holdings Inc. (AMEX: SHJ) for $585.2 million. Symmetry will acquire all of the issued and outstanding shares of Novamerican for $56.00 per share in cash, the two companies announced after Thursday’s close.
Shares of Novamerican Steel Inc. (Nasdaq: TONS) have gained strength following news that the Canadian distributor of steel and aluminum products has agreed to be purchased by Symmetry Holdings Inc. (AMEX: SHJ) for $585.2 million. Symmetry will acquire all of the issued and outstanding shares of Novamerican for $56.00 per share in cash, the two companies announced after Thursday’s close.
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