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Novelis braces for EU charge sheet in review of Aleris takeover

( July 1, 2019, 15:34 GMT | Insight) -- Novelis is braced for formal EU objections to its $2.6 billion takeover of rival aluminum producer Aleris, in what would mark the most serious hurdle to clearing the deal to date, MLex has learned. The American buyer has so far declined to offer formal concessions to head off that threat, but it still could — up until Aug. 9.* Under the terms of the merger agreement, Novelis accepted a $1.2 billion worldwide cap on antitrust-related divestments.Novelis is braced for formal EU objections to its $2.6 billion takeover of rival aluminum producer Aleris, in what would mark the most serious hurdle to clearing the deal to date, MLex has learned....

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