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Novelis-Aleris closing pushed back due to regulatory concerns

By Natalie McNelis ( August 6, 2019, 13:47 GMT | Insight) -- Novelis has revised the timing for closing of its Aleris acquisition to the last quarter of 2019 as a result of ongoing merger-control procedures in the US, EU and China, according to Novelis CEO Steve Fisher. In a conference call with investors today, Fisher skirted numerous direct questions about difficulties the companies have encountered in the regulatory approval processes, saying “ultimately, we believe we will receive the clearances and close in the fourth quarter of this year.”Novelis has revised the timing for closing of its Aleris acquisition to the last quarter of 2019 as a result of ongoing merger-control procedures in the US, EU and China, according to Novelis CEO Steve Fisher. ...

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