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Latest Wheeling-Pittsburgh Steel Corp. Stories

2008-09-01 03:00:18

By Harris, Linda OAO Severstal Inc., the Russian steelmaker aiming to increase its toehold in the U.S. steel industry, has completed its acquisition of Esmark Inc., a deal that includes Wheeling-Pittsburgh Steel. Severstal purchased nearly 39 million Esmark shares - about 94 percent - prior to the Aug. 4 deadline. The acquisition cost Severstal $775 million plus nearly a half million-dollars more in debts and loans it assumed as part of the deal. The new company will be known as...

2008-08-06 03:00:41

By Joe Napsha, The Pittsburgh Tribune-Review Aug. 6--The consolidation of the global steel industry continued Tuesday as Russian steelmaker OAO Severstal completed its $1.25 billion purchase of Esmark Inc., the parent company of Wheeling-Pittsburgh Steel Corp. Severstal sealed the deal to acquire Esmark by purchasing 38.7 million shares of Esmark, or about 94.1 percent of its outstanding stock, by Monday's deadline for the tender offer, Severstal said. The Russian company paid about $775...

2008-05-02 00:00:24

By Joe Napsha Wheeling-Pittsburgh Steel Corp.'s parent firm said Wednesday that a $1.1 billion buyout offer from India's Essar Steel Holdings Ltd. won't save its mill in Allenport in Washington County. Esmark Inc., which merged with Wheeling-Pittsburgh in November, agreed to a $17-a-share offer from Essar that was the best deal among interested buyers, Chief Executive Officer James Bouchard said in a conference call with analysts. The cash offer pays Esmark about 13 percent more than...


Word of the Day
baudekin
  • A rich embroidered or brocaded silk fabric woven originally with a warp of gold thread.
'Baudekin' seems to be an alternative form of 'baldachin,' from the Italian 'Baldacco,' Baghdad, the city where the material was made.
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