Union discord may sink ArcelorMittal plant sale
Dec 11, 2007 | 03:24 PM
| Michael Cowden
The $1.35-billion deal for ArcelorMittal to sell its Sparrows Point, Md., facility to E2 Acquisition Corp. appeared to be in jeopardy late Tuesday as the companies struggled to come to terms as a midnight deadline approached.
Sources close to the negotiations gave differing accounts of exactly what was holding up the discussions, but suggested they could hinge on disagreements with the United Steelworkers union.
The Luxembourg-based integrated steel giant made commitments to fund a voluntary employment beneficiary association (VEBA) for USW members, some sources said, but the company appeared to be backing away from that agreement.....
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