ArcelorMittal gets approval for ThyssenKrupp Alabama plant acquisition

Global steel giant ArcelorMittal has announced that it has received approval from the US antitrust authorities with respect to its acquisition, through a 50/50 joint venture with Japan's Nippon Steel & Sumitomo Metal Corporation, of German steelmaker ThyssenKrupp's rolling and coating plant in Calvert, Alabama.
 
According to ArcelorMittal, the approval satisfies one of the conditions for the closing of the acquisition. Subject to the satisfaction of other customary conditions (including the receipt of additional regulatory approvals), the acquisition is expected to close later in the first quarter of 2014 or in the second quarter of 2014.