CSN loses bid to force Ternium into Usiminas tender offer

The dispute between the two steelmakers has heated up/iStock/sdlgzps

In a case that could have important ramifications for minority shareholders and corporate governance, the São Paulo Court of Appeals has rejected an attempt by Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) to force Italo-Argentine counterpart Ternium to buy out minority shareholders in Minas Gerais steel company Usiminas.