Severstal says it won't raise ante in bid for ailing steelmaker Stelco

Nov 16, 2004 | 09:05 AM |

Russia's JSC Severstal isn't planning to raise its offer for Stelco Inc. in response to a more recent offer by Deutsche Bank AG's venture fund.

"We are not prepared to pay more for this asset," Vadim Makhov, deputy general director of Cherepovets-based Severstal and chief executive officer of Severstal North America Inc., Dearborn, Mich., said at a news briefing in Moscow Tuesday. "We....

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