TX - Ternium offers to buy 28.73% participation in Ternium Mexico for $1B

Ternium (NYSE:TX) offers to acquire from its subsidiary Ternium Argentina a 28.73% participation in Ternium Mexico that the firm does not own directly for $1B. At present, Ternium directly owns 71.27% and 62.49% of Ternium Mexico and Ternium Argentina, respectively. The proposed deal would be subject to approval by Ternium Argentina's shareholders and the unit's approval of a dividend of $900M. If approved, the transaction is expected to close in Q1 of 2022.

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Ternium offers to buy 28.73% participation in Ternium Mexico for $1B