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Mergers & Acquisitions
Who's buying and who's selling iron and steel assets.
Latest News
BlueScope Steel Exits Castrip Joint Venture
23 August 2016 - Australia’s BlueScope Steel Ltd. has divested its stake in Castrip LLC, its thin strip casting technology joint venture, for US$20 million, the steelmaker disclosed on Monday.
Essar Algoma Sale to Take More Time to Finalize
19 August 2016 - The group of lenders proposing to acquire Canada’s Essar Steel Algoma is continuing to negotiate the sale with the company’s bondholders, federal and provincial governments and the United Steelworkers union, but a closing doesn’t yet appear to be at hand, according to a court filing.
This Isn't Hot Air: Praxair, Linde Discussing Possible Merger
16 August 2016 - Industrial gas supplier Praxair Inc. said it is discussing a possible merger with Germany’s Linde AG, the company announced on Tuesday.
Steel Dynamics Acquires Scrap Yards in Tennessee, Mississippi
15 August 2016 - Metals recycler Sims Metal Management Ltd. has divested certain scrap yards in the eastern United States, selling them to Steel Dynamics Inc. for an undisclosed amount, according to reports.
U. S. Steel Canada Declines New Offer From Essar Global
10 August 2016 - U. S. Steel Canada has rejected a new buyout offer from Essar Global, saying that its new bid is substantially similar to one that was proposed -- and rejected -- earlier this year, according to reports.
Regulators OK Sale of Terex Material Handling Division
09 August 2016 - European and U.S. regulators have approved the proposed sale of Terex Corp.’s material handling and port solutions business to Finland’s Konecranes, the companies have announced.
A New Offer Emerges for U. S. Steel Canada
09 August 2016 - An entity that includes shareholders of India’s Essar Global said it has made a formal, binding offer for U. S. Steel Canada, which is operating under creditor protection while it attempts to find a buyer.
Keystone Acquires South Carolina PC Strand Manufacturer
08 August 2016 - Keystone Consolidated Industries Inc. has acquired pre-stressed concrete (PC) strand maker Strand-Tech Martin Inc. for an undisclosed amount.
Report: China Weighing Plan to Combine Steelmakers
02 August 2016 - Chinese officials are thinking about consolidating some of the country’s largest steelmakers into two behemoth companies, according to the Bloomberg news service.
Steel Dynamics Completes US$114M Vulcan Acquisition
02 August 2016 - Steel Dynamics Inc. has finalized its acquisition of threaded rod manufacturer Vulcan Threaded Products Inc., the company has announced.
Reliance Steel Moves in Alaskan Distribution Market
02 August 2016 - Reliance Steel & Aluminum Co. has acquired Alaska’s largest steel distributor for an undisclosed amount, the company has announced.
Mitt Romney's Former Investment Firm Wants to Buy a Steel Mill
27 July 2016 - Bain Capital, the investment firm that was founded by former Republican presidential nominee Mitt Romney, is part of a consortium of lenders looking to acquire Canada’s Essar Steel Algoma, reports the online SooToday.com
Houghton Acquires Metalworking Fluids Maker
27 July 2016 - U.S.-based metalworking fluids maker Wallover Enterprises Inc. has been sold to a Gulf Oil International subsidiary for an undisclosed amount.
Nucor Executives See Much Potential in Texas Plate Mill Acquisition
21 July 2016 - Nucor executives are upbeat about the company’s US$29 million investment in a Texas plate mill, saying it is a well-run, well-equipped facility that will give Nucor access to new value-added niche markets.
Nucor Expands Plate-Making Capabilities Through Acquisition
20 July 2016 - Nucor Corp. is acquiring a plate mill from a mining equipment manufacturer for about US$29 million, the steelmaker announced on Thursday.
New Owner of Cold-Finish Equipment Manufacturer Looks to Streamline Production
20 July 2016 - Pennsylvania-based Big B Manufacturing has acquired cold-finished machine maker Hetran Inc. out of bankruptcy for US$765,000, according to reports.
Report: Overseas Bidder Looking at U.S. Steel Canada, Essar Algoma
18 July 2016 - A metals trading firm that seems to have lost out on its bid to acquire all of Tata Steel’s U.K. business is turning its attention to overseas targets, reports The (London) Financial Times.
Investment Firm Drops Plan to Acquire Canadian Steelmakers
14 July 2016 - A New York-based private equity firm has backed out of a deal to buy Canada’s Essar Steel Algoma and reportedly has dropped a separate bid for another major Canadian steelmaker, U. S. Steel Canada.
Steelworkers Union Rebuffs Would-Be Acquirer of Essar Algoma, Backs Competing Offer
12 July 2016 - The United Steelworkers union said it will not support Essar Steel Algoma’s tentative sale to a private equity firm and instead is pushing for an alternate deal, one with the steelmaker’s former owner.
No Guarantees That Port Talbot Works Will Be Saved, Says Tata Executive
11 July 2016 - Tata Steel cannot guarantee that the U.K.’s largest steelmaking facility has a future ahead of it, even if it is able to sign a joint venture agreement for its strip business, reports The Guardian newspaper.
