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Who has the upper hand in National bid? (Metal Industry News).

Publication: Metal Center News
Publication Date: 01-MAR-03 		Format: Online - approximately 696 words
Delivery: Immediate Online Access

Article Excerpt
The fate of National Steel Corp. remains up in the air as its two suitors, AK Steel Corp. and U.S. Steel Corp., jockey for position. Though AK Steel has been named the lead bidder, U.S. Steel appears better positioned in crucial negotiations with the Steelworkers, leaving it unclear which company has the advantage.

In a ruling Feb. 6, a federal judge approved a motion making AK Steel the lead bidder with its Jan. 30 offer to acquire National Steel's assets for $1.125 billion, which exceeds the Jan. 9 bid from U.S. Steel of $950 million.

Attorneys for National Steel filed the motion and...

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