<h1>Merger approval: competition authority clears acquisition of a steel division, regulatory order to follow.</h1> The Competition Commission has approved Laptev Finance Private Limited's acquisition of the Plates & Coils Mill Division of Welspun Corp Limited as a combination under the Competition Act; Laptev is described as a trader in goods including steel and Welspun as a large welded pipe and tube manufacturer. A detailed CCI order will follow, confirming regulatory clearance for the proposed transfer of the specified business division.