# Baowu Steel in talks to merge with Magang Group

China Baowu Iron and Steel Group is in discussions for a mega merger with Magang (Group) Holding Co. Ltd., which would consolidate Magang's nearly 20 million metric tons of steel production with Baowu's existing 65 million metric tons, reinforcing Baowu's position as the world's second largest steel producer.

- Type: Acquisition
- Announced: 2018-09-28
- Where: China
- Status: rumored
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [China Baowu Iron and Steel Group](https://endata.com/companies/34590.md) (acquirer)
- [Magang (Group) Holding Co. Ltd.](https://endata.com/companies/34591.md) (target)

## Sources

- [caixinglobal.com](https://www.caixinglobal.com/2018-09-28/steel-giants-forge-merger-as-china-moves-to-strengthen-state-sector-101331148.html), 2018-09-28: "China Baowu Iron and Steel Group is in discussions for a mega merger with Magang (Group) Holding Co. Ltd., according to insiders with knowledge of the matter."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.