Steel Mills
January 22, 2014
SSAB to Acquire Steel Rival Rautaruukki
Written by Sandy Williams
SSAB plans to acquire Finnish steel company rival Rautaruukki for 10.1 billion kroner ($1.8 billion) in a deal that the two companies hope will bring a cost savings of 1.4 billion kroner ($254 million) in three years.
The major stockholders at both companies, Solidium Oy (39.7 shares) at Rautaruukki and Industrivaerden AB (18.2 shares), are supporting the acquisition which needs 90 percent approval by share holders and regulatory approval by the European Union.
