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Bloomberg reported Posco (NYSE:PKX) may buy a stake in ArcelorMittal Mines Canada Inc. (NYSE:MT) after canceling a bid for Arrium Ltd. (ASX:ARI).
Bloomberg reported Posco (NYSE:PKX) may buy a stake in ArcelorMittal Mines Canada Inc. (NYSE:MT) after canceling a bid for Arrium Ltd. (ASX:ARI).
As quoted in the market news:
A group including Posco may seek to buy about 10 percent of ArcelorMittal Mines Canada that’s worth about $1 billion, MoneyToday reported earlier, citing unidentified banking officials. Posco, which may invest as much as $300 million, hired Morgan Stanley to advise on the possible stake purchase, the Korean-language news provider said. The balance of funds would be raised from the partners, which weren’t identified.
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