The Board of Sandur Manganese & Iron Ores at its meeting held on 25 April 2024 has approved strategic business acquisition through purchase of 80% equity share capital of Arjas Steel (ASPL), by entering into a Share...
U.S. Steel shareholders approve $14.9 bln buyout by Nippon Steel
U.S. Steel shareholders on Friday approved its proposed $14.9 billion acquisition by Japan’s Nippon Steel, as expected, taking the merger one step closer to completion even as political opposition to the deal...
Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
A group representing major automakers on Friday urged the White House to oppose any effort by steelmaker Cleveland-Cliffs to buy rival U.S. Steel, warning that a deal could result in anti-competitive pricing for...
Cleveland-Cliffs CEO mulls much lower bid for US Steel if Nippon deal falls apart
Cleveland-Cliffs CEO Lourenco Goncalves said on Thursday he would consider another bid for United States Steel likely worth no more than $30 per share if the latter’s $14.1 billion deal with Japan’s Nippon...
ArcelorMittal to buy 28.4% stake in Vallourec for about $1 bln
Steelmaker ArcelorMittal said on Tuesday it will acquire a 28.4% stake in Vallourec for around 955 million euros ($1.04 billion) to increase its exposure in the tubular business. ArcelorMittal, the world’s second...
NCLT allows Tata Steel to withdraw merger with TRF
The NCLT has approved Tata Steel’s proposal to withdraw merger with TRF Ltd, according to an exchange filing. On February 7, Tata Steel said that its board has decided not to pursue the amalgamation of TRF Ltd, as...
Tata Steel board decides not to merge TRF Ltd as company sees turnaround
Tata Steel on Wednesday said its board has decided not to pursue the amalgamation of TRF Ltd, as the associate company is witnessing a turnaround in its business performance. Tata Steel had earlier announced the...
Tata Steel completes proposed amalgamation of five of nine subsidiaries
Tata Steel Ltd announced that it has successfully amalgamated five of its nine strategic businesses, in line with its long-term strategy and commitment to simplify its business portfolio. In an exchange filing on...
Blade maker Supermax goes into bankruptcy
The National Company Law Tribunal (NCLT) has admitted men’s grooming and personal care firm Supermax Personal Care under the insolvency resolution process and appointed Kshitiz Gupta as the interim resolution...
NCLT approves merger of Tata Metaliks with parent; not to announce separate quarterly results
The National Company Law Tribunal has sanctioned the amalgamation of Tata Metaliks Ltd into its parent Tata Steel, which led to the cancellation of board meeting ahead of financial results announcement of the subsidiary...
Nippon Steel confident of completing US Steel acquisition
Japan’s top steelmaker Nippon Steel is confident of successfully completing its planned acquisition of U.S. Steel, despite opposition from labour union and certain U.S. senators, its president said on Friday. The...
EoI for RINL strategic sale to be invited after discussing broad contours with stakeholders: Govt
Expression of interest (EoI) for strategic sale of RINL will be invited after discussing the broad contours of the transaction with stakeholders, Parliament was informed on Tuesday. Minister of State for Finance Bhagwat...
