Ternium's 4Q Results Overshadowed by Acquisition of Thyssenkrupp's CSA Assets; Fair Value Unchanged
Ternium issued middling fourth-quarter results as steel and mining profits declined sequentially, but the near-term outlook appears strong. Much bigger news, however, came in the form of a large acquisition. Ternium announced that an agreement is in place with Thyssenkrupp to acquire its CSA Brazilian steel assets. The deal is expected to close by Sept. 30, 2017. Although the transaction will require antitrust approval in multiple jurisdictions, including Brazil, Germany, and the U.S., we don't ...
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