30 Jul

Posted at 15:20h in News Articles, News Articles 2004 to 2009
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Jim and Craig Bouchard plan reverse merger to acquire steelmaker Wheeling-Pittsburgh July 30, 2006, Chicago Tribune, By James P. Miller, Tribune staff reporter After expanding Esmark Inc. through a rapid-fire series of friendly acquisitions, Jim and Craig Bouchard suddenly have adopted an unfriendly posture. In their quest to move their Chicago Heights steel-service-center holding company onto a bigger stage, the Bouchard brothers want to take over publicly traded steelmaker Wheeling-Pittsburgh Corp. by means of a financial maneuver known as a reverse merger. If successful, privately held Esmark would become a public company. Reverse mergers of any stripe are a rarity. But because the target...

21 Jul

Posted at 15:22h in News Articles, News Articles 2004 to 2009
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July 21, 2006, Post-Tribune (Merrillville, Ind.), Post-Tribune Staff Report CHICAGO — Undaunted by a rebuff from Wheeling-Pittsburgh Steel Corp. officials, Esmark Inc. CEO James P. Bouchard on Thursday continued his quest to take over the West Virginia steel company. Esmark revealed its own slate of board directors for the company that draw from various disciplines including business, academia and the metals industries. Esmark also announced it still intends to file a preliminary proxy statement with the Securities and Exchange Commission shortly in relation to its takeover proposal. Esmark’s action comes a day after Wheeling-Pitt’s CEO James G. Bradley brushed aside Esmark’s takeover threat, saying...

18 Jul

Posted at 15:23h in News Articles, News Articles 2004 to 2009
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[caption id="attachment_1043" align="alignright" width="250"] Robert J. Pavuchak, Post-Gazette Shares of Wheeling-Pittsburgh, which operates this plant in Allenport, rose 8 percent yesterday on news of Esmark’s $1.1 billion bid.[/caption] July 18, 2006, Pittsburgh Post-Gazette, By Len Boselovic Pittsburgh Post-Gazette A top official of the United Steelworkers of America yesterday endorsed Esmark’s proposal to merge with the parent company of Wheeling-Pittsburgh Steel, saying the alliance would make the steelmaker stronger and provide more security for workers and retirees. Meanwhile, Wheeling-Pitt shares rose 8 percent following Esmark’s $1.1 billion bid, which values the steelmaker’s stock at $20 per share. Wheeling-Pitt closed yesterday at $19.26, up $1.40. USW...

17 Jul

Posted at 15:26h in News Articles, News Articles 2004 to 2009
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July 17, 2006, Wall Street Journal, By PAUL GLADER, The Wall Street Journal Esmark Inc., a fast-growing steel distribution company, plans to announce as early as today that it is launching a proxy fight with steelmaker Wheeling-Pittsburgh Corp., followed by an offer to combine the two companies. Esmark, a closely held Chicago company led by brothers James and Craig Bouchard, plans to offer a slate of six to 11 directors at Wheeling-Pittsburgh’s annual meeting expected to occur in early August to replace current directors. Wheeling-Pittsburgh, of Wheeling, W.Va., is primarily owned by institutional investors and hedge funds, although nearly 20% of the...