Dearborn Works Case Study

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The transaction also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products. AK Steel said that it paid $707 million in cash for the acquisition, which includes $314 million for working capital. The acquisition was financed with a combination of debt and equity securities offerings. The company will refer to its Dearborn, Michigan facility as “Dearborn Works.” “At AK Steel, the future is now, and the future is bright, as our acquisition of Dearborn Works makes us a larger, stronger and more flexible company,” said James L. Wainscott, Chairman, President and CEO of AK Steel. “The acquisition is transformational to AK Steel, and it combines much more than the operational assets of two
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