EU To Probe Finnish Steel Co.'s $3.4B ThyssenKrupp Unit Buy

Law360, New York (May 22, 2012, 2:20 PM EDT) -- Europe's antitrust regulator said Tuesday it would conduct an in-depth investigation into the competitive impact of Finnish steel company Outokumpu Oyj's proposed €2.7 billion ($3.4 billion) purchase of Germany-based ThyssenKrupp AG's stainless steel unit.

The European Commission said in a statement that its preliminary look into Outokumpu's plan to buy Inoxum GmbH raised serious concerns about the effect the merger would have on the manufacturing and sales markets for stainless steel.

“The commission’s preliminary investigation indicated potential serious competition concerns in various markets for the production...
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