13
May
10:29
NSSMC signs Nisshin takeover deal
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) has signed an agreement with Nisshin steel that will see it take a controlling stake in the special and stainless steel producer. The pair hope that the resulting cost efficiencies will help them survive ever-growing competition, Kallanish notes.
NSSMC will begin with a tender offer for outstanding shares in Nisshin, currently expected by February 2017 and at JPY 1,620 ($14.95) per share. If it do…
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Anonymous
Very good overview of the weekly steel market.
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