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...
EU clears $14.9 bln purchase of U.S. Steel by Japan’s Nippon
The European Union cleared U.S. Steel’s $14.9 billion buyout by Japan’s Nippon Steel on Monday, allaying competition concerns from a deal that has drawn political opposition in the United States. The...
DoJ seeks more details from US Steel, Nippon Steel on proposed merger
The U.S. Department of Justice is seeking more details and documentary materials as part of an antitrust review of Nippon Steel’s proposed $15 billion takeover of U.S. Steel, the American firm said on Thursday...
Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky
Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to...
Board of Sandur Manganese & Iron Ores approves acquisition of 80% stake in Arjas Steel
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...
