Outokumpu Inoxum deal approved

Finnish steelmaker Outokumpu (OMX:OUT1V) said that The European Commission has today approved the acquisition of ThyssenKrupp’s stainless division Inoxum by Outokumpu. It is subject to the divestiture of stainless steel mill in Terni, Italy, which would have been an important part of transaction synergies. The company is confident that there are many potential buyers for the unit Outokumpu targets closure of the deal by the end of this year.