Ontario Steel makes bid for U.S. Steel Canada: Reuters
Ontario Steel Investment Ltd, a group that includes shareholders of Essar Global, said that it had submitted an offer for the purchase of U.S. Steel Canada Inc, which has been in creditor protection since 2014, Reuters reported. The offer includes the assumption of $954 million in liabilities under U.S. Steel Canada's pension plan and a commitment to provide $25 million toward post-employment benefits for U.S. Steel Canada's past and present staff. Last month, Ontario Steel Investment launched a bid to acquire Essar Steel Algoma Inc.
9 August 2016•2 mins read
