Bidder Loses Interest in Rouge Steel, Ford Says : Steel Firm Bid Fades

Ford Motor Co. said today a bidder for its Rouge Steel Co. subsidiary, believed to be Worthington Industries Inc., is no longer interested in acquiring the unit, but the auto maker said it still is seeking a partner to run the steel firm.

The head of Rouge Steel, David Blackwell, said in a letter to the division’s 3,000 employees that the company must cut costs in order to be competitive.