Nippon Steel-Arcelor pact has control change clause

Newswire

TOKYO, Feb 23 (Reuters) - Japan's Nippon Steel Corp. President Akio Mimura said on Thursday that its technology tie-up agreement with Arcelor includes a clause that allows either party to terminate the contract in case of a change of company control. "Technology is an important asset for Nippon Steel. But we have not decided how to use this clause yet," Mimura told a news conference. Arcelor produces steel for cars using Nippon Steel's technology and sells it mainly to Japanese automakers ...

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