Monday, November 20, 2006

Steel Sector Sees Flurry of Activity on M&A

A lot of steel names are higher today following Russian steel maker Evraz Group's deal to buy Oregon Steel Mills (NYSE: OS). The buyout also comes on the heels of reports Friday that Russia's biggest steelmaker OAO Severstal wants to buy U.S. Steel Corp. (NYSE: X). The buyout activity in the sector has been heavy for some time.

Other steel names: Nucor (NYSE: NUE), AK Steel (NYSE: AKS), Allegheny Tech (NYSE: ATI), Carpenter Technology (NYSE: CRS), Steel Dynamics (Nasdaq: STLD), Chaparral Steel (Nasdaq: CHAP), Companhia Siderurgica Nacional (NYSE: SID), IPSCO Inc. (NYSE: IPS), Mittal Steel (NYSE: MT), Reliance Steel & Aluminum (NYSE: RS).

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