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Esmark vs. Wheeling-Pitt: Service Center Maneuvers to Take Over Mill.

Publication: Metal Center News
Publication Date: 01-AUG-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Esmark vs. Wheeling-Pitt: Service Center Maneuvers to Take Over Mill.(SERVICE CENTER NEWS)(Esmark Inc., Wheeling-Pittsburgh Steel Corp.)

Article Excerpt
In an unusual role reversal, a smaller service center company is hoping to take over a larger mill and create a low-cost steel supplier hybrid. Esmark Inc., an aggressive industry consolidator, hopes to acquire Wheeling-Pittsburgh Steel Corp., one of the oldest mills in the country, and possibly through a rare reverse merger process become a publicly traded company.

After quietly approaching Wheeling-Pitt earlier in the year, Chicago-based Esmark and its chief executive Jim Bouchard have launched an open, hostile bid to take over the West Virginia steel producer, whose board has approved an alternate merger with Brazilian steelmaker Companhia Siderurgica...

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