Brazils Cia. Siderúrgica Nacional (CSN) has not
denied reports of a possible acquisition of ThyssenKrupp
AGs Steel Americas operations, which include its slab
plant in Brazil and rolling mill in Alabama.
The company "has as policy to
follow the movements of the companies from the sectors in which
it operates," it said Jan. 22 in response to queries by
São Paulos stock exchange Bovespa. "CSN reiterates
its commitment (to making) the market aware of any binding act
which demands the publication of a material fact."
CSN reportedly offered $3.8
billion to acquire ThyssenKrupps Cia. Siderúrgica
do Atlântico (CSA) slab plant and the Calvert, Ala.,
rolling mill, according to a Jan. 17 report from the Wall
Street Journal, adding that the Brazilian steelmaker was
the sole company to bid for the two plants.
Brazilian newspaper Valor
Econômico reported Jan. 18 that CSN would meet with
state-owned Brazilian development bank BNDES to discuss how to
make such a transaction viable. BNDES could then become a major
shareholder at CSN, it said.
CSN president and chief
executive officer Benjamin Steinbruch said in June that the
steelmaker would be interested in purchasing CSA.
ThyssenKrupp said in May that it was considering "strategic
options" for its Steel Americas operations in Brazil and the
United States, including a partnership or the sale of such
plants. It owns 73.13 percent of CSA, with the remainder
controlled by Rio de Janeiro-based Vale SA.
A version of this article was
first published by AMM sister publication Steel First.