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Posted AT 7:25 AM EST on 26/08/08

Savvy Canadians shepherd deal

ANDY HOFFMAN

From Tuesday's Globe and Mail

It may be a Russian steel maker buying U.S. coal assets, but behind OAO Severstal's $1.3-billion (U.S.) offer for PBS Coals Corp. is a savvy group of Canadian deal makers, mining executives and investors. The all-cash offer, unveiled this past Friday, marks another attempt by a major steel maker to snap up coal mines and secure a supply of the raw material needed to make steel.

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