U.S. Steel Canada rejects offer from Essar consortium: Reuters
U.S. Steel Canada Inc has rejected a buyout offer from Ontario Steel Investments, a group that includes shareholders of Essar Global, saying it was not considering further proposals by Essar, which had been eliminated from the sale process, Reuters reported. U.S. Steel Canada said Essar was rejected as a potential buyer of the business earlier this year following discussions with stakeholders including the Ontario government. It cited a failure by Essar, the Indian energy and resources conglomerate, to provide evidence of its financial ability to own and operate the company and an inability to gain the support of all stakeholders.
10 August 2016•2 mins read
