The steel industry was rocked yesterday by news of a massive consolidation between three prominent companies: the Republic Iron and Steel Company, the Midvale Steel and Ordnance Company, and the Inland Steel Company. The deal, valued at approximately $211 million, involved a stock capitalization of $150 million and a bonded indebtedness of over $61 million. The Midvale Steel and Ordnance Company’s name was set to be changed to the North American Steel Company, as part of the agreement.
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Key Facts
- State: Pennsylvania
- Category: White Collar Crime
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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