Brazil's anti-trust regulator rejects Ternium challenge

miércoles 6 de mayo de 2015 11:44 GYT

BRASILIA May 6 (Reuters) - Brazil's anti-trust regulatory agency Cade voted on Wednesday to reject a claim that Luxembourg-based Ternium provided misleading information when it bought a stake in Brazilian steelmaker Usiminas in 2012.

The claim had been brought by Companhia Siderúrgica Nacional SA, or CSN, which had hoped a positive ruling by Cade could oblige Ternium to extend a tender offer to other shareholders based on the price paid in 2012.

At a meeting in Brasilia, Cade official Gilvandro Vasconcelos de Araújo said the agency was not in a position to judge on whether Ternium should be forced to extend a tender offer. That decision, he said, was up to Brazil's markets regulator CVM. (Reporting by Leonardo Goy; Writing by Stephen Eisenhammer; Editing by Ted Botha)