Tenaris, the world’s largest steel tube producer, controlled by Argentina’s Techint, is to buy North American rival Maverick Tube for $3.2 billion. The acquisition will allow Tenaris to expand into the North American market. The move by Techint’s Luxembourg-based unit pushed up the company’s share price and saw an improvement in Argentina’s Merval Tuesday – Technit has a 27.7% weighting in the index.
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