Mergers & Acquisitions
Who's buying and who's selling iron and steel assets.
Latest News
U.S. Steel Canada, Essar Algoma Mills Won't Shut in Proposed Merger, Says Investment Firm
22 June 2016 - The investment firm planning to buy Canada’s Essar Steel Algoma has confirmed that it also is bidding on U.S. Steel Canada and intends to merge the two steelmakers, reports The (Toronto) Globe and Mail newspaper.
Report: Investment Firm Hopes to Merge the former Stelco, Essar Steel Algoma
20 June 2016 - A New York-based private equity firm has plans to acquire two ailing Canadian steelmakers and merge the businesses, reports The Hamilton Spectator newspaper.
ArcelorMittal Exploring Divestment of French Steel Businesses
20 June 2016 - ArcelorMittal is looking at selling a stake in a French subsidiary while it explores a sale of a wire unit, which also has operations in the country, according to the Reuters news service.
Essar Steel Algoma Accepts Sale Bid From Investment Firm, Lenders
17 June 2016 - A consortium made up of an American private equity firm and a group of lenders has reached an agreement to acquire Essar Steel Algoma, the Canadian steelmaker announced on Friday.
Commercial Metals Sells Off the Last of Its Australian Distribution Business
17 June 2016 - Commercial Metals Co. has found a buyer for the last of its Australian steel distribution assets, the U.S.-based company has announced.
China Acquisition of Unprofitable Serbian Mill Undermines Efforts to Reduce Global Overcapacity, Says EUROFER
17 June 2016 - As Chinese President Xi Jinping visits Serbia this week, the European Steel Association is raising objections over the sale of Serbia’s largest steel mill to a state-owned producer in China.
Columbus Castings to be Put on Auction Block in July
16 June 2016 - Constellation Enterprises LLC, the bankrupt parent of Ohio-based Columbus Castings, is planning to sell the business through an auction after a proposed private sale was called off, reports the Columbus (Ohio) Business First newspaper.
Two Potential Buyers Said to Have Bids on U. S. Steel Canada
15 June 2016 - A private equity firm and an industrial conglomerate have entered the final stage of bidding for U. S. Steel Canada, which is operating under creditor protection as it seeks a buyer, reports The Hamilton Spectator newspaper.
Report: Tata Pushes Back Decision on Sale of U.K. Business
09 June 2016 - Tata Steel apparently is going to give itself more time to consider the fate of its struggling U.K. business, extending the timeline for naming a preferred bidder for the operation, reports the (London) Financial Times.
Reports: U.K. Government May Loan Tata Steel Millions to Keep It from Leaving
03 June 2016 - Tata Steel, which in March announced that it no longer thought it could make steel profitably in the U.K. and would exit the market, may not leave after all.
Metals Trader Announces Plans to Expand U.K. Mill
31 May 2016 - Metals executive Sanjeev Gupta and his firm, Liberty House, plan to nearly double the capacity of its Welsh rolling mill and add 2 million metric tons of liquid steelmaking capacity there, the firm announced on Tuesday.
Columbus Castings Files for Chapter 11 Bankruptcy
18 May 2016 - America’s largest single-site foundry and its parent company have filed for bankruptcy protection and the plant is to be sold to an unidentified buyer, according to Dow Jones Daily Bankruptcy Review.
Japan's No. 1 Steelmaker Strikes Deal to Buy Out Its No. 4 Rival
16 May 2016 - Japan’s largest steelmaker is acquiring a majority stake in the country’s fourth-largest producer, Nisshin Steel Co., as a defense against the supply glut, reports The Japan Times.
Terex Cancels Merger With Konecranes, But Strikes a Different Deal
16 May 2016 - U.S.-based Terex Corp. has halted its planned merger with Finland’s Konecranes Oyj, but will instead sell its materials handling and port solutions business to Konecranes in a deal valued at approximately US$1.28 billion, according to reports.
Tata Sets its Eye on Seven Bids -- Maybe More -- for U.K. Business
11 May 2016 - Seven preliminary offers for Tata Steel’s U.K. business have passed an initial review and will receive further consideration from the company. And it may add others to the list, Tata has announced.
Steel Companies Look to Buy Italian Steel Works
09 May 2016 - Italian steel processor Marcegaglia Group and ArcelorMittal have made an offer for the Ilva mill, Italy’s largest steel works, reports the Reuters new agency.
Two Teams Vying for Tata Steel's U.K. Business
09 May 2016 - The deadline to submit preliminary offers for Tata Steel's U.K. division has passed, and details of the two investment teams looking to buy the operation have emerged.
Newly Acquired Long Products Business Names Three to Executive Team
04 May 2016 - Black Diamond Capital Management, the private equity firm that acquired much of ArcelorMittal’s U.S. long carbon business earlier this year, is assembling its new executive team and has appointed industry veteran Robert Simon to its helm.
Vallourec Completes Sale of Heat Exchanger Tube Business
02 May 2016 - French tubemaker Vallourec has closed on its divestment of its heat exchanger tube business, the company has announced.
Halliburton, Baker Hughes Call Off the Wedding
02 May 2016 - Oilfield services companies Halliburton and Baker Hughes Inc. have called off their multibillion merger amid the energy slump and opposition from regulators.
