Creditors Counter Ohio Group's Bid for Weirton Steel: ; Deal Worth More Than $260 Million for Bankrupt Company
Charleston Daily Mail › April 09, 2004
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Summary
MORGANTOWN - A group of creditors aiming to recoup their losses on bankrupt Weirton Steel Corp. offered $261.2 million for the company, setting up a possible April 12 showdown with Ohio's International Steel Group.
The Informal Committee of Secured Noteholders, collectively owed some $118 million, offered the minimum amount on Tuesday required to beat ISG's offer of $255 million.See the full content of this document
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Creditors Counter Ohio Group's Bid for Weirton Steel: ; Deal Worth More Than $260 Million for Bankrupt Company
The noteholders' bid is $138.74 million, $97 million of assumed liabilities and a credit bid of $25.5 million, said Tom Thompson of Imperial Capital LLC, an adviser to the group. The bid will be largely fina...
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