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2025-07-31 17:54:45
[$2.3 Billion Deal Faces New Uncertainty: India's Supreme Court Reopens JSW Steel Acquisition Case!] ⑴ On July 31, Beijing time, India's Supreme Court announced it would revoke a previous order rejecting JSW Steel's acquisition of Bhushan Power and Steel. ⑵ The court also stated that challenges to the transaction require a fresh hearing. ⑶ This means that JSW Steel's previous $2.3 billion acquisition of Bhushan Power and Steel will once again face legal scrutiny. ⑷ Previously, in May of this year, the Supreme Court of India rejected JSW Steel's restructuring plan. ⑸ Despite four years having passed since the acquisition, the court still ordered the liquidation of the debt-ridden Bhushan Power and Steel. ⑹ Subsequently, the court suspended the liquidation proceedings to allow creditors of JSW Steel and Bhushan Power to file a review petition challenging the ruling overturning the acquisition. ⑺ The Supreme Court's latest decision undoubtedly adds further uncertainty to this massive steel industry merger and acquisition. ⑻ The market will closely monitor the subsequent trial progress to assess its impact on the Indian steel industry and related companies.
