European Commission OKs Outokumpu-Inoxum merger

Nov 07, 2012 | 03:05 PM |

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 (, Oct. 1).....

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