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POSCO submits letter of intent for Thyssen's Steel Americas - report
October 4, 2012 / 7:53 AM / 5 years ago

POSCO submits letter of intent for Thyssen's Steel Americas - report

SEOUL, Oct 4 (Reuters) - South Korean steelmaker POSCO has submitted a letter of intent to buy ThyssenKrupp AG’s Steel Americas, a media report said on Thursday.

MoneyToday said POSCO has hired Credit Suisse as an advisor for the purchase and POSCO may form an alliance to buy the assets from Germany’s biggest steelmaker, citing an official related to the deal.

A POSCO spokesman declined to comment on the report, but said the company was studying Thyssen’s assets.

Reporting by Hyunjoo Jin; Editing by Matt Driskill

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