Saddled with a second request from the Department of Justice and the acquiror’s stock price tickling the walkaway, AK Steel Holding Corp.’s (AKS) $1.4 billion acquisition of Armco, Inc. still appeared sound to sources. One week ago, the companies, both producers of flat-rolled steel, although for different markets, announced that the DOJ had requested more “limited in scope” information. “The DOJ came back with some specific questions,” said an Armco spokesman. He, of course, declined to offer details about what the agency asked. Both Pittsburgh-based Armco and AKS maintained that the deal will close by Sept. 30.
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