Commercial Metals Company’s Acquisition of Certain Assets from Gerdau S.A.

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The parties completed the $600 million transaction after regulatory review by the U.S. Department of Justice.

Retained by Cleary Gottlieb

Counsel for Commercial Metals Company (CMC) retained Aviv Nevo of the University of Pennsylvania and Cornerstone Research to assist with the DOJ’s regulatory review of CMC’s proposed $600 million acquisition of certain U.S. rebar steel mill and fabrication assets from Brazilian-headquartered producer Gerdau S.A.

Cornerstone Research supported Professor Nevo, who evaluated the transaction’s competitive effects. The deal combined two of the three largest producers of rebar in the United States.

CMC announced the acquisition in January 2018, and the transaction closed in November 2018 after the DOJ granted approval.


For more information about this case, contact Sachin SanchetiKostis Hatzitaskos, or Mike Topper.

Case Expert

Aviv Nevo

George A. Weiss and Lydia Bravo Weiss University Professor,
Professor of Economics and Marketing,
The Wharton School and Department of Economics,
University of Pennsylvania;
Former Deputy Assistant Attorney General for Economic Analysis, Antitrust Division, U.S. Department of Justice;
Senior Advisor, Cornerstone Research