Although E2 Acquisition Corp.'s plan to buy the Sparrows Point mill from ArcelorMittal fell through after ArcelorMittal terminated the deal earlier this week, the investment group has told press that it plans to make another bid.
In an emailed statement, E2 Chairman Craig T. Bouchard indicated that the firm will continue to work with the United Steelworkers and the court-appointed trustee to seek their approval of a new sales agreement.
Bouchard did not give the names of any potential partners that might strengthen the company's financial backing for the new bid. E2's previous sales deal to buy Sparrows Point was terminated due to its inability to secure financing for the deal.