NatSteel invites bids for takeover

NatSteel invites bids for takeover

Last week reports revealed that Singaporean mill Natsteel was offered a takeover by its own management and the offer, worth over $160million was to be evaluated by an independent group of managing directors of Southern Steel Bhd. NatSteel officials state that they are willing to receive other offers from third parties for this business. The submitted offers will be reviewed by ANZ Singapore besides the independent group of directors. The company points out to the fact that the distribution of funds to shareholders might take some considerable time involving a voluntary liquidation of the company.