Reuters exclusively reported that Europeâ€™s biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo. The European Union competition enforcer opened a full-scale investigation into the deal in November, saying the merged entity could hold a dominant position in copper scrap with increased purchasing power to negotiate lower prices for the copper scrap it buys. Another concern centered on Aurubisâ€™ market power in the downstream markets for copper cathodes and wire rods.
Reuters reveals Aurubis to win EU approval for Metallo takeover; market reacts
28 April 2020, 12:00 am. 1 minute
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