BlueScope Steel gets antitrust clearance to buy Fletcher’s Pacific Steel

Tue, 15 Apr 2014

April 16 (BusinessDesk) - BlueScope Steel, Australia’s largest steelmaker and owner of the New Zealand Steel mill, has gained antitrust approval to acquire the assets of Fletcher Building’s Pacific Steel in a $120 million deal. The Commerce Commission said while the acquisition will leave BlueScope as the only New Zealand producer of flat steel products such as steel slab and sheeting, and long steel products such as billet, reinforcing bar and wire there wasn’t an overlap between the two businesses and prices would continue to be influence by...

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