US Government News 1: Benteler Steel & Tube Manufacturing Corp. Abandons Merger with Tenaris, S.A. After Justice Departm
Posted: Tue Feb 07, 2023 3:29 am
Tenaris, S.A. (Tenaris) confirmed that Benteler Steel & Tube Manufacturing Corp. (Benteler) has walked away from Tenaris’s planned $460 million take-over of Benteler’s state-of-the-art steel and tube manufacturing facility in Shreveport, Louisiana. The abandonment comes after the Justice Department’s Antitrust Division raised competition concerns about the deal.
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