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Article: Thailand : POSCO in talks with Thainox to buy -co source.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
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South Korean steel maker POSCO (005490.KS) is in talks to buy Thainox Stainless PCL INOX.BK, the largest stainless steel producer in Thailand, but nothing has been decided yet, a company source said.
"We are at the last stage of negotiating acquisition conditions, including price, but nothing has been decided yet," said the source at the world's No.4 steelmaker POSCO, who declined to be named.
The chairman of the Thai company, Prayuth Mahagitsiri, declined to comment when contacted by Reuters.
After the news was released, shares of Thainox Stainless soared 6.47 percent to close at 1.48 baht ($0.444), its highest level since August 2007, and ...