Haynes International, a US-based high-performance alloys manufacturer, has announced that the Committee on Foreign Investment in the United States (CFIUS) has approved its planned acquisition by North American Stainless (NAS), which is the wholly-owned US subsidiary of Spanish stainless steel producer Acerinox.
According to the statement, the merger is still subject to regulatory approvals from the related authorities in the UK and Austria, while all other approvals have been granted. The deal is expected to be completed in the fourth quarter of this year.
As SteelOrbis reported previously, in February this year, Acerinox had disclosed its intention to acquire Haynes in order to strengthen its position in high-performance alloys business.
