WHEELING, W.Va. (AP) -- Esmark says it will be acquired by OAO SeverStal for about $1.25 billion, including debt.
Esmark Inc. shareholders will receive about $19.25 per share under the tender offer. The sale price represents a discount of 6 percent from Wednesday's closing price of $20.47.
OAO SeverStal will also purchase Esmark's $110 million term-loan facility from Essar Steel Holdings Ltd.
Essar Steel Holdings had been battling Russia's OAO Severstal to acquire Esmark.
OAO SeverStal's tender offer for shares of Esmark is scheduled to expire July 18.