EU Clears CSN's Cimpor Takeover Amid Revised Offer

Law360, New York (February 16, 2010, 2:21 PM EST) -- The European Union's competition regulator has signed off on a bid from Companhia Siderurgica Nacional, one of Latin America's largest steel manufacturers, to take over Portugal's Cimpor, as CSN upped its offer from about €3.86 billion ($5.3 billion) to more than €4.14 billion ($5.7 billion).

The European Commission found that CSN's public bid for the Portuguese cement maker would not harm competition in the EU, as the Brazilian company's European activities are mainly limited to selling imported iron ore and steel.

One of CSN's subsidiaries also...
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