According to an exclusive from Reuters Thyssenkrupp and Tata Steel will not go very far in concessions to gain approval for a planned steel venture. Reuters quoted four people familiar, adding their offer might not be enough to satisfy the European Commission.
The two companies last year struck a deal to combine their European steel units to create the continent’s second-largest steelmaker after ArcelorMittal, a move that must be cleared by the European regulators.
Brussels last month sent a statement of objections in its antitrust review of the transaction, effectively asking for remedies in exchange for approval in three areas — electrical steel, galvanized steel for car parts, and packaging steel.
Full Content: Reuters
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