17
Dec
13:36
GFG Alliance bids to acquire Stemcor: reports
Sanjeev Gupta-led GFG Alliance has submitted a bid to acquire UK-based trading firm Stemcor, Financial Times reports. The bid included a range of potential valuations, with the lowest just shy of Stemcor’s net asset value of $150 million, the paper says based on comments from unnamed sources close to the situation.
Stemcor says it is unable to comment on a specific bid by any group. However, it tells Kallanish: “On the streng…
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Anonymous
Very good overview of the weekly steel market.
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