MMG’s $500 Million Anglo American Deal Faces Deeper EU Probe (2)

MMG Ltd.’s $500 million purchase of Anglo American Plc’s Brazilian nickel business is set to be hit by an in-depth European Union probe, with regulators raising concerns over how the deal could harm the bloc’s stainless-steel industry.

EU competition chief Teresa Ribera is set to announce the move by a deadline of Nov. 4, over fears the transaction could hamper future supplies of ferro nickel, a key component in steel, according to people familiar with the matter.

The planned deal is seen as part of a wider restructuring by Anglo Americanto fend off an unsolicited $49 billion ...