Status:  Clearance

 

Acquirer:  Wieland-Werke AG (Germany)

Acquired:  Global Brass and Copper Holdings, Inc. (US)

Value:  US$965 million

Industry:  Metals


On July 1, 2019, Global Brass and Copper Holdings, Inc., a producer of sheet, strip, foil, rod, tube and fabricated metal component products, announced that “[t]he Committee on Foreign Investment in the United States (‘CFIUS’) has concluded its review under Section 721 of the Defense Production Act of 1950, as amended, of the transaction contemplated by the Agreement and Plan of Merger (the ‘merger agreement’), dated as of April 9, 2019, by and among Global Brass and Copper Holdings, Inc. (the “Company”), Wieland-Werke AG (“Wieland Group”), Wieland Holdings, Inc. and Elephant Acquisition Corp., and determined that there are no unresolved national security concerns with respect to the proposed transaction.” (Global Brass and Copper Holdings, Inc., Form 8-K, July 1, 2019, SEC Filing.)  “Wieland-Werke Aktiengesellschaft is a German stock corporation and leading supplier of semi-finished copper and copper alloy products.” (Global Brass and Copper Holdings, Inc., Schedule 14A, May 10, 2019, SEC Filing.)  Under the merger agreement, dated April 9, 2019, the parties had to submit “a draft joint voluntary notice to CFIUS . . . within fifteen (15) Business Days” of the agreement (by April 30 ,2019).   (Agreement and Plan of Merger, Section 5.5(f), Global Brass and Copper Holdings, Inc., Form 8-K, Ex-2.1, Apr. 11, 2019, SEC Filing.)