Nippon and Sumitomo receive necessary approvals for merger

Monday, 19 March 2012 12:27:24 (GMT+3)   |  
       

Japanese steelmakers Nippon Steel Corporation and Sumitomo Metal Industries have announced that they have received necessary approvals from the relevant authorities both in and outside Japan regarding the merger of the two companies.
 
The merger is scheduled to be fully completed on October 1, 2012, after a merger agreement is executed in April this year and the agreement is approved by shareholders of the companies in June.

The Ministry of Commerce of the People's Republic of China has notified that it will not prohibit the merger of the two companies. The Japan Fair Trade Commission had already approved the merger on December 14, 2011.


Similar articles

Chinese pipe producer sells Houston OCTG Group to Southern Tube

02 Oct | Steel News

Nippon Steel to merge two plantmaker subsidiaries

28 Sep | Steel News

Sumitomo Metals acquires its own shares from Nippon Steel

04 Sep | Steel News

Nippon Steel Pipeline and Sumitomo Metal Pipeline agree to merge

27 Jun | Steel News

Sumitomo and Nippon receive shareholders’ approval for merger

26 Jun | Steel News

Nippon and Sumitomo ink final deal on business integration

27 Apr | Steel News

Nippon-Sumitomo merger also receives approval from India

30 Dec | Steel News

Japan approves merger of Nippon Steel and Sumitomo Metal

15 Dec | Steel News

Nippon Steel and Ternium/Tenaris increase stakes in Usiminas

28 Nov | Steel News

Nippon Metal and Nisshin Steel deny merger reports

16 Nov | Steel News