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Sweden/Finland: SSAB nails down $1.6B steel merger

By  |  July 15, 2014

Swedish steelmaker SSAB has reportedly won regulatory approval to acquire Finnish rival Rautaruukkii in a $1.6 billion transaction.

The European Commission cleared the deal after SSAB offered to divest assets in Finland, Sweden and Norway to appease competition concerns. Authorities said the offer is sufficient to address threats of harm to competition for certain carbon steel products in the geographical markets in question.

Reports say SSAB’s buyout comes as the steel industry around the globe looks for ways to overcome falling demand and over capacity.

Full content: Reuters

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