POSCO will bid for DSME alone

Seoul: POSCO expressed its intention to make an independent bid for Daewoo Shipbuilding & Marine Engineering (DSME). A budget of around 2.6 trillion won was set aside for extra expenses in POSCO's investment plan this year.

POSCO Chairman Lee Ku-taek attended the POSCO CEO Forum on January 10 and disclosed, 'Interest in acquiring DSME still remains, but a joint purchase with other steelmakers is not being considered.'

Dongkuk Steel Chairman Jang Se-ju had previously mentioned, 'Acquiring DSME via forming a steel industry consortium could be another method.'

On the contrary, POSCO stressed that it is fully armed to undertake an M&A on its own.  [14/01/08]