Login/Register

Evraz puts forward the idea of a merger with Severstal

Company News

Evraz puts forward the idea of a merger with Severstal

Tue, 13 December 2011
Article viewed 1 times
http://stmedia.digitallook.com/web/img/dl/company_internationalferrometals_main.jpg
bool(false)
Evraz puts forward the idea of a merger with Severstal
Evraz Quote more

Price: 257.80

Chg: 18.90

Chg %: 7.91%

Date: 13:45

FTSE 250 Quote

Price: 17,636.34 Chg: 10.81 Chg %: 0.06% Date: 13:45

The chairman of Russian steelmaker Evraz, Alexander Abramov, would support a merger with its Russian rival Severstal, according to the content of an interview published in today’s Financial Times.

A combination of both businesses, which would have a market capitalization of £12bn, was described by Mr. Abramov as, “a good idea,” while adding that such a ‘tie-up’ would have several advantages.

Mr. Abramov owns 24% of the business, while another 35% belongs to Roman Abramovich.

As of 9:55AM shares of Evraz are falling by 2.9% to the 345.25p mark.

AB

NASDAQ 100 Top Risers

Name Last Chg.% Time
Western Digital Corp. 69.15 8.30 22:08
Micron Technology Inc. 20.44 7.24 22:10
Autodesk Inc. 80.34 5.27 22:10
PACCAR Inc. 67.63 4.97 22:05
American Airlines Group 48.65 4.78 22:10

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Incyte Corp. 101.96 -4.90 21:50
Shire Plc Ads 164.80 -4.61 22:01
Celgene Corp. 112.66 -4.03 22:05
Mylan Inc. 34.50 -3.79 22:10
Vertex Pharmaceuticals Inc. 75.32 -3.58 21:51