Quantcast

Latest SeverStal Stories

2008-06-30 03:02:40

By Harris, Linda Esmark Inc., posted $15.8 million in red ink for the first three months of 2008, but the company's management team said they expect to make it into the black in the second quarter. The Chicago-based company belatedly released its quarterly earnings statement this week, blaming the delay on the complexities associated with finalizing its merger with Wheeling-Pittsburgh Steel Corp. late last year. Esmark also had been late posting its 2007 year-end results, and now...

2008-06-28 00:02:29

Russian metals and mining company OAO Severstal announced it has an agreement to buy West Virginia-based Esmark Inc. for $19.25 per share. Including the assumption of debt and loans, that puts the value of the deal at $1.25 billion. Esmark has been at the center of a bidding war between Severstal and India's Essar Steel Holdings. While management had previously labeled Essar's offer superior, the United Steelworkers union was backing a buyout by Severstal. Esmark issued a statement...

2008-06-28 00:02:29

By Vicki Smith Steelmaker and distributor Esmark Inc. has an attractive assortment of plants and equipment with unrealized potential, but Russian metals and mining company OAO Severstal said Thursday it plans to change that with a $250-million, five-year capital investment. Severstal announced late Wednesday it won the bidding war for Wheeling-based Esmark, offering $19.25 per share. Including the assumption of debt and loans, that puts the value of the deal at $1.25 billion. Founded...

2008-06-27 00:02:26

Russian metals and mining company OAO Severstal announced Wednesday it has an agreement to buy West Virginia-based Esmark Inc. for $19.25 per share. Including the assumption of debt and loans, that puts the value of the deal at $1.25 billion. Esmark has been at the center of a bidding war between Severstal and India's Essar Steel Holdings. While management had labeled Essar's offer superior, the United Steelworkers union was backing a buyout by Severstal. Esmark issued a statement urging...

2008-06-26 15:02:51

To: NATIONAL EDITORS Contact: Tony Montana of United Steelworkers (USW), +1-412-562- 2592 PITTSBURGH,June 26/PRNewswire-USNewswire/ -- The United Steelworkers (USW) today welcomed the news that Esmark has entered into a definitive merger agreement with OAO Severstal and that Esmarks board of directors now recommends that shareholders tender their shares to Severstal. (Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO) The union called the outcome a victory for longtime...

2008-06-26 06:02:52

By Andrea K. Walker, The Baltimore Sun Jun. 26--Russian steelmaker OAO Severstal emerged yesterday as the apparent winner in a takeover fight for West Virginia-based Esmark Inc., agreeing to buy the steelmaker for $775 million plus debt in a deal that could boost production at Sparrows Point. The deal comes just seven weeks after Severstal completed its purchase of the Baltimore County steel mill from ArcelorMittal for $810 million, with promises to invest $500 million to boost output to...

2008-06-25 18:02:53

Esmark Incorporated (NASDAQ:ESMK) (the "Company") announced today that it has entered into a definitive merger agreement to be acquired by OAO SeverStal ("SeverStal") for $19.25 per share. This represents an overall transaction including debt valued at approximately $1.25 billion. Under the terms of the merger agreement, SeverStal will amend its tender offer to increase its offer price to $19.25 per share and Esmark will amend its Schedule 14D-9 to include the Esmark board of director's...

2008-06-25 18:02:53

MOSCOW, June 25 /PRNewswire-FirstCall/ -- OAO Severstal (LSE: SVST; RTS: CHMF; "Severstal", "the Company"), one of the world's leading metals and mining companies, today announced that it has entered into a definitive merger agreement to acquire Esmark Incorporated (Nasdaq: ESMK; "Esmark"), a manufacturer and distributor of flat rolled and other steel products. Under the terms of the merger agreement, Severstal will increase the purchase price in its previously announced tender offer for...

2008-06-25 18:02:53

Essar Steel Holdings Limited (Essar) today announced that it has informed the Board of Directors of Esmark Incorporated (Esmark) that Essar is withdrawing its offer to purchase all of the outstanding shares of Esmark at US$19 per share. On the invitation of Esmark and their financial advisor UBS, Essar participated in a bidding process for the acquisition of Esmark. After following all legal procedures and a transparent bid process set by the Esmark Board of Directors and UBS, Essar...

2008-06-24 21:00:00

To: LABOR EDITORS Contact: Tony Montana of United Steelworkers (USW), +1-412-562- 2592 PITTSBURGH, June 24 /PRNewswire-USNewswire/ -- Yesterday, the United Steelworkers (USW) and Esmark agreed to make no public comments regarding arbitrator Richard I. Block's decision that upheld the USW's contractual "right to bid" against Esmark's willful violation of the parties' collective bargaining agreement. (Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO) Today, at 4 p.m.,...


Word of the Day
lambent
  • Licking.
  • Hence Running along or over a surface, as if in the act of licking; flowing over or along; lapping or bathing; softly bright; gleaming.
This word comes the Latin 'lambere,' to lick.
Related