The European Commission said the deadline for its inquiry into German copper group Norddeutsche Affinerie AG's (NA) buy of Belgian peer Cumerio is set for Sept 9.
<font face="Arial,sans-serif" size="2">NA has said it is not clear 'whether and when' it will come to an agreement with A-TEC Industries AG, the Austrian industrial group that has acquired a stake in Cumerio large enough to block NA's planned purchase of the Belgian copper maker. </font>
<font face="Arial,sans-serif" size="2">A-TEC has acquired 15 pct in NA and 25.01 pct of shares in Cumerio.</font>
<font face="Arial,sans-serif" size="2">NA's agreed 30 eur a share takeover bid for Cumerio is conditional on shareholders representing at least 80 pct of shares accepting the offer, which is not possible unless A-TEC cuts its stake or tenders its shares.</font>