POSCO, Hanwha Submit Bid for Daewoo

Monday, October 13, 2008

South Korea's POSCO and Hanwha Group have submitted separate bid proposals to buy a controlling stake in Daewoo Shipbuilding & Marine Engineering, the two companies said on Monday.
POSCO, which agreed last week to form a consortium with a rival bidder GS Group, has submitted a takeover proposal, its spokeswoman Ko Min-jin said, competing with Hanwha Group and Hyundai Heavy.

Source: Reuters

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