Business Services Industry
Bevy of buyers circling Ryerson; Possible suitors said to include Esmark, Arcelor Mittal.(Inland Steel Co.)
Crain's Chicago Business, March, 2007 by Tita, Bob
Byline: BOB TITA Ryerson Inc., the 165-year-old Chicago steel distributor, is drawing interest from a host of potential buyers, including the foreign steelmaking giant that bought Ryerson's sister company, Inland Steel Co., nearly a decade ago. Luxembourg-based Arcelor Mittal is considering the purchase of Ryerson, according to several sources with knowledge of the situation.
Ryerson opened itself up to a sale last month when management, in the midst of a battle with dissident shareholders, announced its intention to explore strategic options. One source, who wished to remain anonymous because of the sensitive nature of the negotiations, describes Mittal's interest in Ryerson as preliminary and says it's unclear whether it will make a formal bid for the...
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