June 23, 2008
Russian Firm Disappointed in Esmark
WHEELING - Russian steelmaker OAO Severstal says it's disappointed in Esmark Inc.'s tactic to stave off a $670 million takeover bid, saying the move tips the scales to an India-based steel producer.
The metals and mining company's offer to purchase Esmark is backed by the United Steelworkers union, but the Wheeling-based company is interested in Essar Steel Holdings Ltd.'s $750 million offer.
- The Associated Press
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