SCHEDULE 14A
(RULE 14A-101)
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF
1934
(AMENDMENT NO. )
Filed by the Registrant {X}
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Check the appropriate box:
{ } Preliminary Proxy Statement
{ } Confidential, For Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
{ } Definitive Proxy Statement
{X} Definitive Additional Materials
{ } Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
BIRMINGHAM STEEL CORPORATION
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(Name of Registrant as specified in its charter)
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(Name of person(s) filing proxy statement, if other than Registrant)
Payment of Filing Fee (Check the appropriate box):
{X} No fee required.
{ } Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-
11.
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(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11:
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_____
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statement number, or the Form or Schedule and the date of its filing.
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Birmingham Steel Corporation Contacts: Roy Winnick/Roanne Kulakoff
Kekst and Company
212-521-4842 or 4837
ALABAMA COURT DISMISSES UNITED GROUP LAWSUIT
AGAINST BIRMINGHAM STEEL
BIRMINGHAM, Ala. (November 8, 1999) - An Alabama court today dismissed the
lawsuit recently filed against Birmingham Steel Corporation (NYSE: BIR) by
the United Group, a dissident stockholder group led by the United Company,
John Correnti and James Todd. In an order issued today, the Circuit Court
of Jefferson County, Alabama dismissed the action brought by the United
Group, stating that the complaint had no merit.
Robert A. Garvey, Chairman and Chief Executive of Birmingham Steel, said:
"The Court Order confirms what we said on October 15th when the United
Group filed suit against us, which was that the dissidents' lawsuit was
without merit. In our view, the United Group's lawsuit and its related
legal and public relations manuevers were part of the dissidents'
continuing efforts to spread fear, uncertainty and doubt among our
stockholders in support of its attempt to take control of the Company. We
are pleased that the Court has dismissed the United Group's lawsuit and
thereby removed a potential obstacle to the timely and successful
completion of our strategic restructuring."
On October 15th, in an apparent effort to undermine the Company's strategic
restructuring plan, the United Group filed a complaint against the Company
in Jefferson County Circuit Court requesting that the Court grant a
temporary restraining order and preliminary injunction requiring that
Birmingham Steel provide them with five business days' notice of the terms
and conditions of any transaction the Company might enter into, prior to
the Annual Meeting, that would bind the Company to sell its SBQ division.
Birmingham Steel operates in the mini-mill sector of the steel industry and
conducts operations at facilities located across the United States. The
common stock of Birmingham Steel is traded on the New York Stock Exchange
under the symbol "BIR."
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