EU OKs Outokumpu's $3.4B ThyssenKrupp Steel Unit Buy

Law360, New York (November 7, 2012, 3:39 PM EST) -- Finnish steel company Outokumpu Oyj on Wednesday secured antitrust approval in the European Union for its proposed €2.7 billion ($3.4 billion) purchase of Germany-based ThyssenKrupp AG's stainless steel unit, after the companies offered to sell a steel plant and other assets.

The European Commission said it had signed off on the deal, in which Outokumpu would acquire ThyssenKrupp's Inoxum GmbH, after conducting an in-depth review into the planned purchase's impact on competition in the market for cold-rolled stainless steel products in the European Economic Area....
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