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EU Formally Blocks ThyssenKrupp-Tata JV

Law360 (June 11, 2019, 1:56 PM EDT) -- Europe's competition enforcer on Tuesday formally announced it would block a planned joint venture between ThyssenKrupp and Tata Steel over concerns about the automotive and canned food industries, after the companies signaled last month that the review was going south and they would abandon the deal.

The European Commission prohibited the plan to bring together the European steel businesses of German conglomerate ThyssenKrupp and India-based Tata Steel, after finding that the fixes they offered failed to cure concerns about steel used in packaging and automotive manufacturing. The companies said last month the commission was likely to block the deal because the...

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