- Saturday, April 20, 2024
By: Rithika Siddhartha
EUROPEAN Union anti-trust authorities have opened an investigation into global steel giant ArcelorMittal’s bid to buy struggling Italian steel producer Ilva, officials said yesterday (8). The 1.8-billion euro ($1.9-billion) deal would see ArcelorMittal join forces with Italy’s Marcegaglia to snap up the heavily indebted company, which employs 14,000 people. “The European Commission has opened an in-depth investigation to assess the proposed acquisition of Ilva by ArcelorMittal under the EU merger regulation,” said the commission, the executive of the 28-nation EU. “The Commission has concerns that the merger may reduce competition for a number of flat carbon steel products,” the…
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