Reuters reported that ArcelorMittal has won European Union regulatory approval for its takeover of the Dutch unit of US blanks maker Noble International.

The European Commission said that the merger would not lead to any significant change in the market as the company would continue to face several competitors in the flat carbon steel market. It added that "The commission therefore concluded that the proposed concentration would not raise competition concerns."

ArcelorMittal is to acquire full control of Noble European Holdings, which provides steel structural components to the auto industry. It filed for bankruptcy protection for its North American operations in April.

(Sourced from www.reuters.com)