SSAB ends talks with Tata Steel on IJmuiden Steel mill purchase
The big deal that was announced between Tata Steel and the Swedish company SSAB appears to have fallen through. SSAB CEO indicated that the talks have hit a roadblock for a whole host of reasons. “We are not building anything because we wanted to wait for the deal to be concluded,” said Amit Dixit of Edelweiss Institutional Equities.
The big deal that was announced between Tata Steel and the Swedish company SSAB appears to have fallen through. SSAB CEO indicated that the talks have hit a roadblock for a whole host of reasons.
“We are not building anything because we wanted to wait for the deal to be concluded,” said Amit Dixit of Edelweiss Institutional Equities.
“The deal would have added Rs 30-35 to our target price had it concluded but so far our target price of Rs 750 doesn’t take into account anything from the deal,” he added.
Edelweiss was building in USD 2.3 billion to be realised through this deal.
The Swedish steelmaker in November had confirmed discussions with Tata Steel Group concerning a potential acquisition of Tata Steel Europe's Dutch IJmuiden steel mill and related downstream assets.
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(Edited by : Abhishek Jha)
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