BRIEF-Ontario Steel Investments submits formal bid for U.S. Steel Canada

Tue Aug 9, 2016 9:21am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Aug 9 (Reuters) - Ontario Steel Investments Ltd:

* Offer includes assumption at closing of C$954 million of employer liabilities under defined benefit registered pension plans

* Total proposed purchase price was not disclosed

* Ontario Steel Investments Limited says submitted a formal binding offer for purchase of U.S. Steel Canada

* Offer includes commitment to contribute C$25 million per year toward opebs for both active and retired employees

* Ontario Steelworks in active discussions with United Steelworkers Union regarding offer for U.S. Steel Canada Source text for Eikon: