Indian Steelmaker Essar to Acquire Esmark Inc

May 2008
Metal Center News;May2008, Vol. 48 Issue 6, p42
Trade Publication
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.


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