MSCI CONFERENCE Chinese ‘tiptoeing’ around US for steel assets banker

Sep 22, 2010 | 11:56 AM |

Although nitty-gritty dealmaking hasn't quite revived during the economic recovery of 2010, the appetite for mergers and acquisitions in metals remains robust and foreign companies with deep pockets are still looking to acquire assets in North America, according to Mark Henkels, managing director of New York-based investment bank Moelis & Co.

Although the Chinese are more active on the M&A front in Europe, "they are tiptoeing around the United States and they are certainly financially capable" of making deals, Henkels said during the Metals Service Center Institute's Economic Forecast Summit in Chicago, a week after Anshan Iron & Steel Group Corp. signed a deal to take a 14-percent equity stake in Steel Development Co. LLC, Amory, Miss. (AMM, Sept. 16).....

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