It is reported that a group led by stainless steel maker Aperam has up its bid for Outokumpu's Italian steel mill. Outokumpu which is looking to sell its Italian steel plant Terni so far sees all bids as too low. The consortium, including Italian steelmakers Arvedi and Marcegaglia last week submitted a higher bid which is valid until Friday. Outokumpu agreed to sell the Acciai Speciali Terni plant more than a year ago so that they can gain approval for its purchase of ThyssenKrupp's Inoxum unit. The Terni plant is considered one of Europe's most advanced stainless steel mills and is in close proximity to steel buyers in Italy. Other interested buyers include YUSCO of Taiwan, US private equiry funds Apollo and JPMorgan's One Equity Partners.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67318&division=A9
