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Article: Esmark Incorporated Confirms Termination of Sparrows Point Transaction. Esmark Continues Its Efforts to Purchase Sparrows Point Operations.
- Article from:
- Business Wire
- Article date:
- December 17, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PITTSBURGH -- Esmark Incorporated (NASDAQ:ESMK) confirmed today that it has received notice that ArcelorMittal USA has terminated the Purchase and Sale Agreement entered into with E2 Acquisition Corporation to purchase substantially all of the assets of the Sparrows Point business. If the acquisition would have been completed, Esmark Incorporated would have owned approximately 2% of the equity of E2 Acquisition Corporation. Both the United Steelworkers and the court appointed trustee that will oversee the Sparrows Point divestiture have encouraged E2 to remain active in the sale process. Esmark Incorporated plans to continue its efforts to participate in the purchase of ...