US sues to stop Novelis purchase of Aleris

📆 9/5/2019 1:15 AM
📰 ChannelNewsAsia

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The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novelis Inc's proposed US$2.6 billion purchase of Aleris Corp because ...

WASHINGTON: The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novelis Inc's proposed US$2.6 billion purchase of Aleris Corp because of concern over higher prices for aluminum sheet used to make cars.

The company also said the Justice Department failed to understand that the market was bigger than just aluminum and that aluminum competed with steel.

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