A hostile takeover of one of China’s largest non-state steel groups by a state-owned competitor could be finalised as early as next week in a deal that has heightened concerns about creeping renationalisation. State-owned Shandong Iron and Steel Group is likely to take a two-thirds stake in privately held Rizhao Iron and Steel, according to people familiar with the matter who said Du Shuanghua, Rizhao’s majority owner, has tried unsuccessfully to block the takeover.

This entry was posted by Gwen Robinson on Wednesday, August 26th, 2009 at 4:48 and is filed under Capital markets, Commodities, M&A. Tagged with Rizhao Iron and Steel, Shandong Iron and Steel. Edit this entry.