The White House is close to announcing President Joe Biden will block Nippon Steel’s acquisition of US Steel citing national security concerns, two sources familiar with the situation said on Wednesday, amid...
JSW Steel to buy 66.67% in Australian coking coal miner for $170 million
JSW Steel will acquire the controlling stake in an Australian miner for $170 million as India’s largest steelmaker seeks to secure the supply of coking coal—a key raw material that is scarce in India—to meet its...
Thyssenkrupp to Sell Site Stake in Tussle Over Steel Future
Thyssenkrupp AG’s steel unit plans to sell a stake in an industrial site in Germany after a supervisory board meeting ended without agreement on a broader restructuring of the ailing division. As part of a push to lower...
NCLT approves Indian Steel & Wire Products’ merger with Tata Steel
The National Company Law Tribunal (NCLT) in Mumbai on Tuesday approved the merger of Tata Group-owned Indian Steel & Wire Products Ltd with Tata Steel Ltd. The division bench, comprising judicial member KR Saji...
Jai Corp’s Virendra Jain, son acquire Kamachi Industries for ₹487 crore
Jai Corp’s vice chairman Virendra Jain and his son Ankit Jain have acquired Chennai-headquartered steel company Kamachi Industries for ₹487 crore, said a statement issued by Kamachi Industries on Saturday. The...
CCI approves two acquisitions involving Arjas Steel, Suven Pharmaceutical
The Competition Commission of India (CCI) has granted approval for two significant acquisitions, as per an official statement by the CCI. Firstly, the CCI has approved the indirect controlling acquisition of Arjas Steel...
Cleveland-Cliffs to buy Canadian steelmaker Stelco for $2.8 billion
Cleveland-Cliffs will buy Canadian steelmaker Stelco Holdings for C$3.85 billion ($2.8 billion), it said on Monday, marking its first acquisition since a failed bid for rival U.S. Steel last year. North American steel...
Steel body wants merger of three Companies with SAIL for synergy
The Steel Executives Federation of India (SEFI) has urged the steel ministry to merge state-run Rashtriya Ispat Nigam Limited (RINL), Ferro Scrap Nigam Limited (FSNL) and Nagarnar steel plant with the Steel Authority of...
Canada approves Glencore takeover of Teck coal unit, with conditions
The Canadian government has approved Glencore’s $6.93 billion acquisition of miner Teck Resources’ steelmaking coal unit with strict conditions to preserve jobs, the country’s industry minister said on...
Vedanta sees sale of steel operations by October, to spend $1.9 billion on capex
Vedanta Ltd expects to monetise its steel and raw materials business in the first half of the current financial year, chairman Anil Agarwal said. The company had initiated a strategic review of these businesses in June...
US Steel, Nippon Steel receive all non-US approvals for merger
U.S. Steel Corp and Japan’s Nippon Steel have received all regulatory approvals outside of the United States for their proposed $14.9 billion merger, the companies said on Thursday. Nippon had clinched the deal to...
Thyssenkrupp board approves partial sale of steel unit to billionaire Kretinsky
Thyssenkrupp on Thursday said its supervisory board approved a planned sale of 20% of the conglomerate’s steel division to Czech billionaire Daniel Kretinsky in the face of continued opposition from labour...
