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Market Update : 
U.S. Steel Buys Lone Star for $2.1 B
Author: 123jump.com Staff
123jump.com
Last Update: 10:33 AM EDT March 29 2007


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Market averages in New York trading rebounded in the early morning trading on revised GDP grwoth rate for the fourth quarter of 2006. European markets also traded higher across the region. U.S. Steel agreed to buy Lone Star Technologies for $2.1 billion, a premium of 39% from close of yesterday. Tenaris, largest seamless tube maker purchased Maverick Tubes in October for $2.8 billion. U.S. Steel with this acquisition will be the largest oil tube maker int the North America.

 

 

 
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