Siderurgica Nacional (SID +5%) pops at the open after reports say talks concerning the purchase...

|By:, SA News Editor

Siderurgica Nacional (SID +5%) pops at the open after reports say talks concerning the purchase of two ThyssenKrupp steel plants broke down; the apparent sticking point is the price of the Alabama facility. An agreement in principle to buy a ~33% stake in ThyssenKrupp's plant in Brazil could be jeopardized; SID wants control of both plants, and sources say if it can’t have both, it might walk away.