British Steel turns to PwC

PricewaterhouseCoopers is advising British Steel on its merger with Netherlands rival Koninkijke Hoogovens. The merged company will be the world's third-largest steel producer and will be called BSKH. It will seek listings in London, Amsterdam and New York. British Steel shareholders will hold a 61.7% stake in the company. BSKH will have a market capitalization of £2.65 billion ($4.3 billion).