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Wheeling-Pitt pushes CSN deal; Esmark offer backed by union.

Publication: Metal Center News
Publication Date: 01-SEP-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: Wheeling-Pitt pushes CSN deal; Esmark offer backed by union.(METAL INDUSTRY NEWS)

Article Excerpt
THOUGH WHEELING-PITTSBURGH Corp.'s board reports that it has moved closer to a merger deal with Brazilian steelmaker Companhia Siderurgica Nacional, executives from Esmark Inc. continue to pursue their hostile takeover bid-with the support of the mill's union.

James G. Bradley, chairman and CEO of Wheeling-Pittsburgh, says the company has completed negotiations with CSN on most major issues. "Since emerging from bankruptcy in 2003, our board of directors has evaluated a broad range of options for maximizing value for our shareholders. The proposed transaction with CSN...

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