Business

NZ Steel purchase heads off risk of consolidated customer

 New Zealand Steel's $46 million stake in distributor Steel & Tube has shut down the creation of a potentially tricky customer flexing its muscles to get better pricing, analysts say. 

The local unit of Australia's BlueScope Steel paid a 17 percent premium for almost 16 percent of Steel & Tube, effectively blocking any future takeover. The issue became live for NZ Stee

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