Thyssenkrupp merger with Tata Steel rejected

Germany-based steel producer Thyssenkrupp has announced that it expects European antitrust regulators to block plans for a joint venture with Tata Steel of India. As a result, the steelmaker intends to eliminate a total of 6,000 jobs and restructure its business.

Thyssenkrupp also has halted a plan to split into two companies that would hold shares in each other.