Rouge seals $215 mln takeover by Russia Severstal


MOSCOW, Nov 22 (Reuters) - Rouge Industries Inc. , parent of Rouge Steel, has announced it will be acquired by Russia's steel producer Severstal for around $215 million. In a press release posted on RPNewswire overnight the company, which has filed for bankruptcy in the United States, said it planned to complete the transaction before February 2004. Rouge, the in-house steelmaking unit for Ford Motor Co. until 1989, said the deal was subject to bankruptcy court approval as well as a ...

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