Summary
Esmark Inc.'s top executive said the parent firm of Wheeling- Pittsburgh Corp. promised to decide by Friday whether to accept a Russian company's unsolicited bid to buy the domestic steelmaker.
Esmark's board will examine the offer from OAO Severstal of Russia over the next few days before responding, Esmark CEO James Bouchard said in a conference call Tuesday discussing first-quarter financial results that show Esmark lost $15.8 million, or 40 cents a share. Esmark said May 30 it would advise shareholders by Friday whether it would accept, reject or remain neutral on Severstal's offer.See the full content of this document
Extract
Esmark to Decide Stance On Severstal
Bouchard, who did not field questions because of ongoing acquisition talks, did not say if the board favors the Severstal bid, whic...
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