TITLE

Indian Steelmaker Essar to Acquire Esmark Inc

PUB. DATE
May 2008
SOURCE
Metal Center News;May2008, Vol. 48 Issue 6, p42
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that steel mill operator Esmark Inc. has agreed to merge with India-based Essar Steel Holdings Ltd. for a price of $17 per share. It also notes that Essar Steel Holdings has accepted the $110 million term loan to refinance Esmark's existing term loan and provide additional liquidity. It notes that due to the rapidly rising raw material costs, Esmark's management was forced to seek a larger acquirer and agreed with the offer.
ACCESSION #
32462105

 

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