A final decision on the much-talked about merger between Tata Steel in the UK and Europe and German steelmaker ThyssenKrupp won't be taken until 8th September, according to online media reports.
A report by India's Economic Times states that 8th September is the date when a 28-day deadline for objections against the joint venture deal comes to an end.
The German steelmaker has already said that it won't be rushed into a deal. It is likely, say industry observers, that the next step will be a Memorandum of Understanding between the two steel giants, which will pave the way for a more solid deal once a process of due diligence has got underway, including the often complex process of asset valuation.
Talks between the two companies have been going on for over a year and investors are said to be piling on the pressure for both parties to get a move-on.
Source: The Economic Times.