12
Apr
04:00
Nippon completes tender offer for NST shares
Japan's Nippon Steel Corporation (NSC) has officially completed the tender offer for shares of Nippon Steel Trading (NST). This will make it a consolidated subsidiary as of 14 April 2023.
The transaction amount is JPY 107 billion ($798 million) for 35.67% ownership of voting rights. As a result, NSC increased its total ownership ratio of voting rights from 34.54% to 70.21%, Kallanish notes. Through the tender offer, NSC became the…
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Very good overview of the weekly steel market.
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