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Sparrows Point owner: Deal is still on

By Aaron Cahall
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Two days after a self-imposed deadline for completion of the $1.35 billion sale of the Sparrows Mill steel plant, its owner said the deal was still on and that it was conferring with a court-appointed trustee on its status.

“In cooperation with the court-appointed trustee overseeing the sale process, the Purchase Agreement has not been terminated at this time,” Mittal Steel Co. NV spokesman William Steers said in a statement. “The Company is in communication with the [Department of Justice?s] trustee and is determining its next steps in cooperation with the DOJ and the trustee.”

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