AK Steel sees no antitrust issues in mill buy
Aug 13, 2014 | 12:17 PM
| Nat Rudarakanchana
NEW YORK AK Steel Corp. expects to win U.S. Justice Department approval for its proposed $700-million acquisition of OAO Severstals integrated mill in Dearborn, Mich., because the deal would not give the company an overly large share of the automotive steel market, a company executive said.
"We have competing products, especially with aluminum now. ... We have competitors: U.S. Steel (Corp.), ArcelorMittal (SA), Nucor (Corp.), Steel Dynamics (Inc.). And you have imports. Imports are still 20-plus percent of our market, have been forever," chief financial officer Roger K. Newport told analysts and investors at Jefferies LLCs 10th annual Global Industrials Conference in New York. "Youve got plenty of competing markets and suppliers out there."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.