Haynes International (HAYN) – Proposed Merger with North American Stainless Receives Scrutiny in Austria

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Friday, May 03, 2024

Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel and cobalt-based high-performance alloys, primarily for use in the aerospace, industrial gas turbine and chemical processing industries.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Merger proposal receives scrutiny in Austria. The Austrian Federal Competition Authority (AFCA) is of the opinion that the proposed merger between Haynes International and North American Stainless, Inc., a wholly owned subsidiary of Acerinox S.A., should not receive clearance in its current form but should be subjected to a detailed examination by the Austrian Cartel Court. The AFCA filed an application with the Austrian Cartel Court for a Phase II in-depth examination. Like Haynes, Acerinox is active in the field of specialty alloys through its VDM Metals subsidiary.

What is the problem? Based on the release, the AFCA is concerned that the merger would further strengthen Acerinox’s market position in the nickel alloy products sector which could have a negative impact on competition and lead to higher prices.

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