Board of Acerinox ends merger talks with Aperam
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Update time : 2022-06-08 22:30:06
It was reported that the Spanish stainless steel maker, Acerinox, announced on June 6 that it was giving up the preliminary discussions with Dutch Aperam for a potential merge that would have created a European stainless steel giant.
According to Acerinox on Monday, the board of the company agreed unanimously not to continue with the preliminary negotiations with Aperam to evaluate a possible corporate operation.
Back last week, the two companies announced that they had talked about a possible merger; however, no agreement with regard to the scope, structure, or the terms of a potential deal had been achieved.
According to analysts, such a deal would face strict review from the European competition authorities since the resulting company might become a stainless steel giant with an annual capacity of up to 2.3 million tons, which would dwarf current leader Finland-based Outokumpu.
