Worthington Industries (WOR) Higher on Mittal Takeover Speculation Following Analyst Note

Shares of Worthington Industries (NYSE: WOR) are higher in early action today following a note from Prudential calling the company a possible takeover target from Mittal (NYSE: MT). The analyst placed 10-20% odds on Mittal bidding $35 to $45 for Worthington.

Shares of Worthington Industries are 11.7% higher to $20.43 in early action today.

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).