Exhibit 2
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AGREEMENT AND PLAN OF MERGER
dated as of May 20, 1999
among
ARMCO INC.
AK STEEL HOLDING CORPORATION
And
AK STEEL CORPORATION
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TABLE OF CONTENTS
PAGE
Article I THE MERGER 1
SECTION 1.1 The Merger 1
SECTION 1.2 Effective Time 1
SECTION 1.3 Closing of the Merger 2
SECTION 1.4 Effects of the Merger 2
SECTION 1.5 Certificate of Incorporation and Bylaws 2
SECTION 1.6 Directors 2
SECTION 1.7 Officers 2
Article II CONVERSION OF SECURITIES 3
SECTION 2.1 Conversion of Securities 3
SECTION 2.3 Exchange Funds 9
SECTION 2.4 Exchange and Election Procedures 9
SECTION 2.5 Distributions with Respect to Unsurrendered
Certificates 11
SECTION 2.6 No Further Ownership Rights 11
SECTION 2.7 No Fractional Shares of Parent Common Stock 11
SECTION 2.8 Dissenting Shares 13
SECTION 2.9 Termination of Exchange Fund 14
SECTION 2.10 No Liability 14
SECTION 2.11 Investment of the Exchange Funds 14
SECTION 2.12 Lost Certificates 14
SECTION 2.13 Withholding Rights 15
SECTION 2.14 Stock Transfer Books 15
SECTION 2.15 Affiliates 15
Article III REPRESENTATIONS AND WARRANTIES OF THE
COMPANY 15
SECTION 3.1 Organization and Qualification;
Subsidiaries 16
SECTION 3.2 Capitalization of the Company and Its
Subsidiaries 16
SECTION 3.3 Authority Relative to This Agreement;
Consents and Approvals 18
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TABLE OF CONTENTS
(continued)
PAGE
SECTION 3.4 SEC Reports; Financial Statements 19
SECTION 3.5 No Undisclosed Liabilities 20
SECTION 3.6 Absence of Changes 21
SECTION 3.7 Information Supplied 22
SECTION 3.8 Consents and Approvals; No Violations 23
SECTION 3.9 No Default 24
SECTION 3.10 Real Property 24
SECTION 3.11 Litigation 25
SECTION 3.12 Company Permits; Compliance with Applicable
Laws 25
SECTION 3.13 Employee Plans 26
SECTION 3.14 Labor Matters 27
SECTION 3.15 Environmental Matters 28
SECTION 3.16 Taxes 31
SECTION 3.17 Absence of Questionable Payments 33
SECTION 3.18 Material Contracts 33
SECTION 3.19 Insurance 34
SECTION 3.20 Insurance Business 34
SECTION 3.21 Intellectual Property 35
SECTION 3.22 Year 2000 36
SECTION 3.23 Opinion of Financial Advisor 37
SECTION 3.24 Brokers 37
SECTION 3.25 Accounting Matters; Tax Treatment 37
SECTION 3.26 Takeover Statutes 37
SECTION 3.27 Amendment to the Company Rights Agreement 37
Article IV REPRESENTATIONS AND WARRANTIES OF PARENT AND
SUBSIDIARY 38
SECTION 4.1 Organization 38
SECTION 4.2 Capitalization of Parent 38
SECTION 4.3 Authority Relative to This Agreement 39
SECTION 4.4 SEC Reports; Financial Statements 40
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