Steel Dynamics has agreed to purchase Heartland for $400 million in cash inclusive of $60 million of normalized working capital, subject to customary transaction purchase price adjustments. Steel Dynamics believes the purchase price approximates current replacement value. The transaction is expected to be accretive to near-term earnings and cash flow per share. The acquisition will expand Steel Dynamics' annual flat roll steel shipping capacity to 8.4 million tons and total shipping capability to 12.4 million tons. The additional exposure to lighter-gauge and greater width flat roll steel offerings will broaden the Company's value-added product portfolio, enhancing Steel Dynamics position as a leading North American steel producer. "The acquisition of Heartland represents a step in the continuation of our growth strategy," said Mark D. Millett, Chief Executive Officer.