Reported Earlier, Haynes International Secures CFIUS Clearance for North American Stainless Merger
Portfolio Pulse from Benzinga Newsdesk
Haynes International (NASDAQ: HAYN) has secured clearance from the Committee on Foreign Investment in the United States (CFIUS) for its planned merger with North American Stainless. The merger, which involves Haynes becoming a wholly owned subsidiary of North American Stainless, still requires regulatory approval from the UK and Austria. The merger is expected to close in Q4 2024.
June 28, 2024 | 7:16 am
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Haynes International has received CFIUS clearance for its merger with North American Stainless. The merger is expected to close in Q4 2024, pending regulatory approvals from the UK and Austria.
The CFIUS clearance is a significant milestone in the merger process, reducing regulatory risk and increasing the likelihood of the merger's completion. This positive development is likely to boost investor confidence in HAYN in the short term.
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