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Swedish steelmaker SSAB looking at merger of Tata Steel Europe business

Steel producers in Europe are under pressure to consolidate, having been battered by weaker demand and global overcapacity

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SSAB is among steelmakers interested in acquiring steel assets from Thyssenkrupp

Aaron Kirchfeld, Eyk Henning, Ruth David & Dinesh Nair | Bloomberg
Swedish steelmaker SSAB AB is exploring a combination with Tata Steel’s European business as a back-up plan to a deal with Thyssenkrupp AG amid industry consolidation, according to people familiar with the matter.

SSAB is holding preliminary talks with Tata Steel of India as it seeks merger options, the people said, asking not to be identified as the matter is private. The Swedish company, which has a market value of around $3.2 billion, would gain control of Tata Steel’s European business if they pursued such a deal, they said.

Steel producers in Europe are under pressure to consolidate, having been battered by

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First Published: Oct 23 2020 | 11:54 PM IST

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