07
Feb
17:24
Benteler terminates sale to Tenaris
Tenaris says that Benteler Steel Pipe & Tube Manufacturing Corporation has exercised its right to terminate the $460 million sale of its 400,000 short ton/year Shreveport, Louisiana, pipe plant, Kallanish learns.
“Benteler discovered that they had contracted to sell too cheap. Tenaris got bogged down in Hart Scott and other stuff. So, the clock ran out, and Benteler had the right to terminate,” says a US tubular distributor.
The deal was anno…
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