Acerinox, a Spanish stainless steel manufacturer, plans to acquire Haynes International, a US-based company specializing in nickel and cobalt alloys, through a subsidiary, raising concerns about market concentration.

The Austrian competition authority conducted a thorough review, including data analysis and interviews with competitors and customers, revealing tighter market boundaries than initially presented by the merging parties. The merger is feared to strengthen Acerinox's position in nickel alloy products, potentially leading to higher prices and reduced competition.

The competition authority identified specific markets, such as the production and distribution of nickel alloy flat products, where the merger could significantly lessen horizontal competition intensity, mainly due to the high market shares of the merging companies and barriers to new entrants.

As a result, the competition authority deemed the merger not approvable in its current state and has requested a detailed examination by the Cartel Court, with the Federal Cartel Prosecutor also filing a similar request.