ESMARK TIES UP WITH IUD AND DUFERCO IN WHEEL-PIT BATTLE

摘要

US steel distributor Esmark Inc has brought another heavy hitter to the plate in its bid to acquire Wheeling-Pittsburgh Steel Corp, the West Virginia steelmaker, and is hoping to gain more shareholders with a 200 million dollars rights offering. A day after Wheel-Pitt announced a final merger agreement with Rio de Janeiro-based Cia Siderurgica Nacional (CSN), Esmark said it has reached a strategic alliance with Duferco International Trading Holding Ltd and Industrial Union of Donbass whereby the Europeans have pledged to make up to 1.4 million tonnes of slab available per year to the Esmark group, beginning in the first quarter of next year.