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Title
Essar forges steel deal.
Abstract
The article reports on the plan of India's steelmaker Essar to forge a buyout deal with its North American rival Esmark for $688 million. The move is expected to increase Essar's North American steel production capacity to 7 million tons per year following its buyouts of Minnesota Steel and Canada's Algoma in 2007. A 13% premium on Esmark's April 30 closing price was paid by Essar.