18
Jan
09:05
Nippon cedes business to Kobe for Sanyo takeover
Japan’s Nippon Steel and Sumitomo Metal Corporation (Nippon Steel) has secured approval for its takeover of Sanyo Special Steel from the Japan Fair Trade Commission. The approval is conditional on Nippon Steel ceding some of its seamless pipe business to Kobe Steel, Kallanish notes.
Nippon Steel plans to take a 51.5% stake in Sanyo through a third-party allotment of shares. This is part of its plans to build a global special steel giant by combining its ow…
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Anonymous
Very good overview of the weekly steel market.
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