$7.7 billion for Ipsco Who’d have figured it would be the Swedes?

Jul 01, 2007 | 02:37 PM |

Svenskt Stal AB, Stockholm, Sweden, plans to acquire Ipsco Inc., Lisle, Ill., for $7.7 billion, marking the largest of several consolidation moves in the steel industry in recent months.

The announcement ended widespread speculation about who was pursuing Ipsco and stands as an example of the sea change occurring in the current consolidation wave. In the first wave, which broke in the early part of the decade, bankrupt steel companies were available literally for pennies on the dollar. Today, after nearly three....

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