18
Mar
07:58
Osaka Steel expects to own Kohtetsu by end-March
Japan’s Osaka Steel expects Tokyo Kohtetsu to become a consolidated subsidiary from 24 March, when it begins settlement of a tender offer for the company’s shares. Osaka is part of Nippon Steel and Sumitomo Metal Corporation (NSSMC).
The merger of the two electric steelmakers has been on the cards for several years but was previously blocked by Kohtetsu shareholders, Kallanish notes.
Osaka plans to buy 14,697,795 shares at JPY 630 ($5.66) each. It…
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Anonymous
Very good overview of the weekly steel market.
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