A PYMNTS Company

E.U.: Commission okays stainless steel giants’ merger

By  |  November 7, 2012

The European Commission has approved of Finland’s stainless steel company Outokumpu to acquire the stainless steel division of ThyssenKrupp, called Inoxum, which is based in Germany, according to a press release. The two companies are the “largest suppliers of cold rolled steel” in the European Economic Area, which raised concerns by the Commission that their merging would give the new company enough power to raise prices. But among other findings, the Commission has decided that the stainless steel producers’ competitors would find it beneficial to follow suit in price increases should they ever occur.

Full Content: European Commission

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.