DOJ, EU Force Divestitures In Steel Mill Merger

Law360, New York (March 4, 2008, 12:00 AM EST) -- Antitrust regulators in the United States and Europe have approved British materials science company Cookson Group Plc’s $1 billion acquisition of British steel mill supplier Foseco Plc, after requiring certain divestitures.

The U.S. Department of Justice’s Antitrust Division announced Tuesday that it has reached a settlement with Cookson under which the company agrees to divest Foseco’s carbon bonded ceramics business in return for regulatory approval of its acquisition.

The European Commission also OK'd the transaction Tuesday, after Cookson agreed to dispose of its own hi-tech filter...
To view the full article, register now.