Arrium Rebuffs Takeover Bids

Bloomberg reported Arrium Ltd. (ASX:ARI) rebuffed a $1.05 billion offer from Noble Group Ltd. (SGX:NOBL).

As quoted in the market news:

Arrium, the Sydney-based producer previously known as OneSteel Ltd., rejected the offer from the group that also included Posco Australia Pty, National Pension Service of Korea, Korea Investment Corp. and Korea Finance Corp., saying it was too low and conditional. The bidders, grouped under Steelmakers Australia, remain interested in developing the proposal to secure a deal, they said separately.

Click here to read the full Bloomberg report.