The European Commission has again pushed back the deadline for a decision on the acquisition of Italian steelmaker Ilva by AM InvestCo Italy, this time to May 25. The final deadline for a ruling by the European Antitrust Authority on the proposed acquisition was initially set for April 4, but in late February it had been extended by 11 working days to April 19.
Meanwhile, media sources indicate that ArcelorMittal has granted some "concessions" to dissipate the doubts of the European Commission about competition-related issues. The European Antitrust Authority is expected to gather the opinions of all competing European companies and customers on such concessions, before making a final decision.
As previously reported, the European Commission opened an in-depth investigation last November, in order to assess the proposed acquisition of Ilva by AM InvestCo Italy under the EU Merger Regulation. The EC has concerns that the merger may reduce competition for a number of flat carbon steel products.