POSCO, Hanwha Submit Bid for Daewoo
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