WASHINGTON (dpa-AFX) - Monday, Nucor Corp. (NUE) announced its acquisition agreement with Rytec Corp., a company specializing in high-speed commercial doors, for $565 million in an all-cash deal.
Nucor emphasized that this transaction equates to around 12.5 times Rytec's projected 2024 EBITDA.
Leon Topalian, Nucor's Chair, President, and CEO said, 'Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor's product portfolio serving the commercial arena.'
Currently, NUE's stock is trading at $168.32, down 0.24% on the New York Stock Exchange.
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