UPDATE 1-Russia's Severstal to buy Rouge in bankruptcy

Newswire

NEW YORK, Oct 23 (Reuters) - Rouge Industries Inc. , parent of Rouge Steel, on Thursday said it reached an agreement to be acquired by Severstal , one of Russia's three largest steelmakers. Rouge said it had filed for protection under Chapter 11 of the U.S. Bankruptcy Code. It said it will continue to provide uninterrupted service to its customers. No details about the value of the deal, which is subject to bankruptcy court approval, were immediately available. Rouge said the terms would ...

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