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Spain/US: FerroAtlantica faces further scrutiny on merger

By  |  May 13, 2015

Globe Specialty Metals faces an extended U.S. Department of Justice review of its $3.1 billion acquisition of rival Grupo FerroÁtlantica. Miami-based Globe disclosed the DOJ’s second request for information in a filing to the Securities and Exchange Commission Wednesday.

The combination with Madrid-based FerroÁtlantica would create the world’s largest producer of silicon metals, which are critical ingredients for making aluminum, solar panels and other products. FerroÁtlantica is wholly owned by Spain’s Grupo Villar Mir.

The companies said they continue to expect the transaction to close in the fourth quarter of 2015 despite the DOJ’s decision to extend the investigation beyond the initial 30-day waiting period.

 

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