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...
JSL gets board approval to acquire Rabirun Vinimay for Rs 96 crore via insolvency
Jindal Stainless Limited (JSL) said its board of directors has approved the acquisition of Rabirun Vinimay Private Ltd which is under liquidation. The cost of the acquisition is Rs 96 crore, JSL said in a regulatory...
US Steel to be acquired for more than $14 billion by Nippon Steel
U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is...
Tata Steel completes merger of S & T Mining Company with itself
Tata Steel said it has completed the merger of S & T Mining Company Ltd with itself. The scheme of amalgamation of S & T Mining Company Ltd (‘S&T Mining’) into and with Tata Steel Ltd was...
Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs’ proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric...
