According to Acerinox on Monday, the company's board of directors has unanimously agreed not to continue preliminary negotiations with Aperam to consider a possible corporate operation.
Last week, the two companies announced they were talking about a possible partnership; however, no agreement was reached on the scope, nature or terms of a potential deal.
According to analysts, such a deal would face strict scrutiny from European competition authorities as the emerging company could become a stainless steel giant with an annual capacity of up to 2.3 million tons, eclipsing current Finland-based leader Outokumpu.
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