Swedes in multi-billion bid for Canadian steelmaker
AFP · 3 May 2007, 15:09
Published: 03 May 2007 15:09 GMT+02:00
In a statement it said the friendly takeover had been approved by IPSCO management.
On April 12 IPSCO was valued at about $6.13 billion on the New York Stock Exchange and the company last year produced about four million tonnes of steel.
It reported a net profit of $643 million.
SSAB shares were suspended on the Stockholm stock exchange in the late morning pending the announcement.