Steelmaker Esmark Dismisses Russian Bid, Spars with Union
Charleston Gazette › June 13, 2008
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Summary
MORGANTOWN - Steel producer and distributor Esmark Inc. rejected a $670 million takeover offer from Russia's OAO Severstal on Thursday, calling it an inadequate and inferior bid.
Esmark's announcement came 24 hours after India's Essar Steel Holdings Ltd. sweetened the pot by $80 million, raising its bid to $19 per share, or $750 million.See the full content of this document
Extract
Steelmaker Esmark Dismisses Russian Bid, Spars with Union
While Esmark's management had endorsed Essar's initial bid in late April, the United Steelworkers union partnered with Severstal on a counteroffer.
Esmark also announced Thursday...See the full content of this document
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