By Nathan Allen

Thyssenkrupp AG (TKA.XE) said Thursday that due diligence checks ahead of the proposed merger of its European steel operations with Tata Steel Ltd. (500470.BY) are almost complete, and it expects the boards of both companies to sign off on the deal in the first half of the year.

Experts appointed by both companies have confirmed that the deal should produce synergies of between 400 million and 600 million euros ($494.8 million - $742.2 million), Thyssenkrupp said.

Tata is still working to hammer out agreements with unions in several countries, including the U.K. and the Netherlands, Thyssenkrupp said.

Thyssenkrupp has already signed a collective agreement with German metalworker's union IG Metall.

The company said its executive board will present a more detailed strategy update once the Tata deal is signed.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 12, 2018 09:50 ET (13:50 GMT)

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