05:40 AM EDT, 06/28/2024 (MT Newswires) -- Haynes International ( HAYN ) said Thursday that it has received approval from the Committee on Foreign Investment in the US for its planned merger deal with North American Stainless.

The transaction was announced in February, under which Haynes International ( HAYN ) will merge with a unit of North American Stainless, according to the statement. Haynes International ( HAYN ) will be the surviving entity and become a subsidiary of North American Stainless following the transaction.

Haynes International ( HAYN ) said the merger remains subject to regulatory approval from certain regulatory authorities in the US and Austria, with closing expected in Q4.