11:20 AM New York City, New York – Commercial Metals to buy certain U.S. rebar assets from Brazil-based Gerdau for $600 million. Nutrien starts trading from New York and Toronto exchanges. Principal Financial agreed to buy joint ventures in India.
Tollbooth Index jumped 119.80 or 0.9% to 13,895.27.
Commercial Metals Company
) soared 7% or $1.50 to $22.83 after the steel and metal recycler agreed to acquire the domestic rebar steel mill and fabrication assets for about $600 million in a cash from Brazil-focused Gerdau S.A., specialty steel products producer.
The transaction is expected to close before the end of 2018.
Gerdau SA stock at New York stock exchange jumped 4.5% to $3.88.
, Canada-based crop inputs and services provider today announced it had successfully completed the merger of equals between Agrium Inc and Potash Corporation.
Nutrien today also started trading on the Toronto and New York Stock Exchanges under the ticker symbol NTR.
""Today we are proud to launch Nutrien, a company that will forge a unique position within the agriculture industry,"" said chief executive officer Chuck Magro.
Principal Financial Group Inc
) fell 37 cents to $70.19 after the investment manager said it plans to buy India-based Punjab National Bank’s joint ventures full-ownership of the Principal-PNB asset management Co and Principal Trustee Co Pvt Ltd without disclose of financial terms.
) increased 28 cents to $64.05 after the housing and healthcare services provider agreed to acquire rental continuing care retirement communities business from Sunrise Senior Living.
The portfolio is currently managed by Sunrise under triple-net leases. Welltower will acquire the landlord''s ownership interest for $368 million and will transition the communities to a RIDEA structure to deliver next generation care, according to the press release from the company.
Welltower has closed on one of the communities with the remaining three to follow in the first quarter of 2018. This investment is projected to generate a nominal year one cap rate of 7%.