Like two huskies spoiling for a fight, Bethlehem Steel and the Justice Department have been circling each other for more than two years, each one daring the other to knock the chip off its shoulder. Last week both chips were knocked off. Fulfilling one of his dreams, 80-year-old Bethlehem Chairman Eugene G. Grace joined Youngstown Chairman James L. Mauthe in announcing a merger agreement between Beth Steel, second biggest
U.S. producer, with assets of $2 billion and ingot capacity of 20 million tons, and Youngstown Steel, sixth biggest producer (assets $574 million, ingot capacity 5.8 million tons). The Antitrust...
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