Finnish Steel Co. To Buy German Rival For $3.5B

Law360, New York (January 31, 2012, 2:24 PM EST) -- Finnish stainless steel company Outokumpu plans to acquire the stainless steel unit of German industrial conglomerate ThyssenKrupp AG in a deal with an enterprise value of more €2.7 billion ($3.5 billion), the companies announced Tuesday.

A little more than one week after the rivals acknowledged that they were engaged in preliminary discussions, the companies confirmed that they had reached an agreement in principle over the combination of Outokumpu and Inoxum, the stainless steel unit, though some additional approvals by both sides are needed before the deal...
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