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    Market Segment

    December 16, 2025

    Kestenbaum is still in running for Italy's Ilva assets

    Written by Ethan Bernard

    Two bids remain for Italy’s Ilva steel assets, one from a firm headed by steel veteran Alan Kestenbaum, Bloomberg reported on Dec. 11.

    Kestenbaum is the founder of Bedrock Industries, a privately held metals‑and‑mining investment and operating company. He notably served as executive chairman and CEO of Canadian steelmaker Stelco until Cleveland‑Cliffs completed its acquisition in December 2024.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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