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Brazilian steelmaker bids for U.S. plants

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By Cristiane Lucchesi and Blake Schmidt C.2012 Bloomberg News
Saturday, Dec. 1, 2012, 12:01 a.m.
 

Cia. Siderurgica Nacional SA, Brazil's third-largest steelmaker by output, is offering about $3 billion to buy ThyssenKrupp AG's plants in the Americas, according to people familiar with the matter.

CSN, as the Sao Paulo-based company is known, has made the informal proposal and will participate in the final round of negotiations.

ThyssenKrupp, Germany's biggest steelmaker, first attracted about eight bids. ThyssenKrupp asked parties to resubmit their offers because initial bids were deemed too low.

ThyssenKrupp Chief Executive Officer Heinrich Hiesinger said in August he wants to sell the Americas unit for about $9.1 billion.

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