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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): NOVEMBER 4, 1998
J&L SPECIALTY STEEL, INC.
(Exact name of registrant as specified in its charter)
Commission file number 1-11126-60
PENNSYLVANIA 25-1564186
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation of organization)
P.O. BOX 3373
ONE PPG PLACE, PITTSBURGH, PA 15230-3373
(Address of principal executive offices) (Zip code)
412-338-1600
(Registrant's telephone number, including area code)
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Item 7 Financial Statements and Exhibits
(c) Exhibits
99 Press Release dated November 4, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J&L SPECIALTY STEEL, INC.
(Registrant)
/s/ KIRK F. VINCENT
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Kirk F. Vincent
Executive Vice President, Finance and
Administration and Chief Financial Officer
(Principal financial officer and duly
authorized signatory)
Dated: November 5, 1998
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Exhibit 99
NEWS RELEASE
FOR IMMEDIATE RELEASE
Pittsburgh, November 4, 1998 -- The Special Committee of the Board of
Directors of J&L Specialty Steel, Inc. (NYSE:JL) announced today that, in light
of additional information provided to the Special Committee today by Usinor,
the Committee was withdrawing its prior recommendation that shareholders accept
the proposed tender offer by Usinor for all publicly-held shares at $6.25 per
share. The Chairman of the Special Committee stated that this additional
information requires further study between the Special Committee in
consultation with its professional advisors and that the Special Committee will
promptly assess its options in light of that further study.
The Special Committee, comprised of disinterested directors of J&L, was
formed to consider the proposal made in September by Usinor to acquire the
46.5% of J&L not already owned by Usinor.
Contact: Janice Hartman, Legal Counsel to the Special Committee, at (212)
536-3900.
