Severstal NA bidders said down to four

May 27, 2014 | 04:40 PM | Michael Cowden

Tags  steel millo, asset sale, Severstal North America, final bidders, U.S. Steel, CSN, JFE Steel, AK Steel Steel Dynamics Inc.

CHICAGO — Four parties have emerged as final potential bidders for the assets of Severstal North America Inc., according to market sources.

The four contenders are Pittsburgh-based U.S. Steel Corp.; São Paulo-based Cia. Siderúrgica Nacional SA (CSN); Japan’s JFE Steel Corp.; and a joint bid by Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI) and West Chester, Ohio-based AK Steel Corp., market sources said.

Meetings with interested parties are scheduled over the coming weeks, but it’s not yet certain whether a sale will be concluded, sources familiar with the matter said. The narrower list of suitors comes after Dearborn, Mich.-based Severstal NA initially saw nine to 10 parties interested in the company, sources said.....





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