Steel manufacturing giant BlueScope is free to proceed with its $23.1 million acquisition of rival Arrium’s OneSteel sheet and coil business after securing regulatory approval for the deal following an undertaking to offload assets in Western Australia.

In a statement released on Thursday, the Australian Competition and Consumer Commission (ACCC) said it will not oppose the deal, which will see BlueScope – the only domestic manufacturer of the majority of flat steel products supplied to sheet and coil distributors – acquire OneSteel’s sheet and coil distribution sites…