SMM7, May 5: recently, European antitrust figures opposed the acquisition of aluminum producer Aleris Corp. by Indian aluminum company (Hindalco Industries).
European regulators expressed concern in March that the acquisition could lead to fewer consumer choices, pushing up the price of aluminium plates that make cars.
The European Commission has issued a statement to the company against the proposed acquisition.
But the company said on Thursday that the move would not prejudge the final outcome of the deal. The two companies will work constructively with the European Commission to cooperate with the investigation and complete the transaction in a timely manner.
This is not the first deal rejected by European antitrust figures.
The steel joint venture between Tata Steel (Tata Steel) and ThyssenKrupp (ThyssenKrupp AG) has been rejected, arguing that it will boost steel prices in the automotive industry.
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