Nippon Steel’s $15 billion bid for U.S. Steel has been referred to U.S. President Joe Biden, a White House spokesman said, giving the president 15 days to decide on a tie up he has previously said he opposes. The...
CCI clears Thyssenkrupp Electrical Steel India’s acquisition by JSW Steel’s JV arm
The Competition Commission of India (CCI) on Tuesday said it has approved four deals, including the acquisition of Thyssenkrupp Electrical Steel India by a subsidiary of a joint venture firm of JSW Steel and Japan’s JFE...
Japan PM Ishiba urges Biden to approve Nippon-US Steel deal, sources say
Japanese Prime Minister Shigeru Ishiba has sent a letter to President Joe Biden asking him to approve Nippon Steel’s acquisition of U.S. Steel, to avoid marring recent efforts to strengthen ties between the...
JSW Steel-JFE JV to acquire Thyssenkrupp Co for Rs 4kcr
A JSW Steel joint venture with Japan’s JFE Steel Corp will fully acquire Thyssenkrupp Electrical Steel (TKES) India for ₹4,051.40 crore. The 50:50 joint venture between the two steelmakers is also looking at...
Jindal Group in talks to acquire Czech-based Vitkovice Steel for 150 mn euros
To strengthen its global presence, homegrown Jindal Group is talks with Vitkovice Steel to acquire 100 per cent stake in the Czech-based company. The group is expected to complete the acquisition by the end of this...
Nippon Steel to sell Calvert JV to ArcelorMittal if U.S. Steel deal completed
Nippon Steel said on Friday it will sell its entire 50% stake in a joint-venture steel plant it has in Calvert, Alabama, with ArcelorMittal, if the top Japanese steelmaker succeeds in a buyout bid for United States...
Russian steel magnate to buy food producer for around $745 mln, RBC cites sources
A company owned by Russian billionaire Vladimir Lisin is set to acquire Progress, one of the country’s largest baby food producers, for about 70 billion roubles ($745 million), the RBC daily reported, citing...
Biden still opposes Nippon Steel deal’s bid for U.S. Steel
U.S. President Joe Biden said on Friday his opposition to Nippon Steel’s $14.9 billion bid for U.S. Steel hadn’t changed despite a decision by his administration to extend a national security review of the...
Steel ministry pushes for merger of debt-hit RINL with SAIL
The steel ministry is “actively working” towards the merger of Rashtriya Ispat Nigam (RINL) with Steel Authority of India Ltd (SAIL), said a senior government official, a development that comes in the...
U.S. Steel’s proposed $14.9 billion merger with Nippon Steel
The White House is set to announce that President Joe Biden will block Nippon Steel’s $14.9 billion bid for the U.S. Steel citing national security concerns, two sources familiar with the situation told Reuters...
Nippon Steel, US Steel send letter to Biden on merger plans
Nippon Steel and U.S. Steel sent a letter on Sunday to U.S. President Joe Biden about their planned $15 billion merger after media reported that he was preparing to block the deal, a spokesperson for the Japanese...
U.S. Steel’s proposed $14.9 billion merger with Nippon Steel
The White House is set to announce that President Joe Biden will block Nippon Steel’s $14.9 billion bid for the U.S. Steel citing national security concerns, two sources familiar with the situation told Reuters...
