Haynes International - North American Stainless Deal Receives CFIUS Clearance

(RTTNews) - Haynes International Inc. (HAYN) said that clearance has been obtained from the Committee on Foreign Investment in the United States (CFIUS) related to the planned merger with North American Stainless Inc.

The Merger remains subject to regulatory approval from applicable regulatory authorities in the United Kingdom and Austria. All other regulatory approvals and clearances where the applicable authorities have asserted jurisdiction have been obtained. The company continues to expect that the Merger will close in the fourth calendar quarter of 2024.

In February 2024, Haynes International said it agreed to be purchased by North American Stainless, a subsidiary of Acerinox, in a cash deal worth about $970 million.