RIVALS SQUEEZE BLUESCOPE

摘要

Smorgon Steel Group and OneSteel have increased the pressure on rival BlueScope Steel to resume discussions related to their 1.6 billion dollars merger, yesterday announcing a contingency plan that would allow them to effect the deal without BlueScope's approval. In August, BlueScope spent 320 million dollars to buy a 19.9 per cent holding in Smorgon, in effect giving it a blocking stake to prevent the OneSteel-Smorgon merger that was announced in June.