ISG Submits Acquisition Proposal to Bethlehem Steel

摘要

On Jan. 6, Bethlehem Steel Corp., Bethlehem, PA received a proposal from International Steel Group (ISG) to acquire all of Bethlehem's steelmaking assets that, combined with ISG's assets, would create the largest steel company in North America. ISG offered 1.5 billion dollars for the Bethlehem assets. Jan. 6 marked the end of a 60-day period of exclusivity between the companies. Bethlehem will review the proposal with its and ISG's advisers to determine if it is in the best interests of Bethlehem's creditors and other constituents. The review of the proposal could take several weeks.