E.C. Delays Steel Merger Review Of Arcelor, CFL Cargo

Law360, New York (September 20, 2006, 12:00 AM EDT) -- The review of the merger between a subsidiary of Arcelor SA and a Luxembourg-based cargo company has been delayed due to antitrust concerns, the European Commission said on Wednesday.

Arcelor Profil Luxembourg SA, which is jointly owned by Arcelor SA and Luxembourg’s national railroad, plans to acquire 33% of CFL Cargo SA for around $50 million to $57 million.

The E.C. delayed the review in order to study offers from each company of assets they would be willing to divest in order to obtain antitrust clearance,...
To view the full article, register now.