European Commission OKs Outokumpu-Inoxum merger
Nov 07, 2012 | 03:05 PM
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Tags
European Commission,
Outokumpu,
Inoxum,
ThyssenKrupp,
Joaquín Almunia,
merger,
stainless steel,
Elfi Middelbeek
LONDON — The European Commission has approved the proposed €2.7-billion ($3.46-billion) merger of Outokumpu Oyj and ThyssenKrupp AG’s stainless division, Inoxum Group, the regulatory body said Wednesday.
Approval is conditional on Outokumpu selling Duisburg, Germany-based Inoxum’s stainless steel operations in Terni, Italy.
This measure was suggested by Espoo, Finland-based Outokumpu after the commission voiced concerns about the combined group having sufficient influence on the market to increase cold-rolled stainless steel product prices (amm.com, Oct. 1).....
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