Brazilian steelmaker Companhia Siderurgica Nacional's (CSN) cement unit is close to acquiring LafargeHolcim Ltd's assets in the country, two people with knowledge of the matter told Reuters on Thursday. Other bidders have been told that LafargeHolcim, the world's largest cement maker, has picked CSN's bid, the sources said on condition of anonymity as the talks are private. LafargeHolcim is selling the assets to reduce leverage and it analyzed proposals from CSN and local rival Mizu that aimed to acquire its full business in Brazil, the people said.
It's turning out to be a nerve-wracking week for metals and mining stocks, with many breaking their winning streak that started this year and falling precipitously. There's a common link between all these stocks: They're industrial metals producers, dealing in base metals, which also explains why they're tumbling.
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