Original: The new company was formed to acquire the stainless steel interests of Thomas Firth and John Brown Limited and the English Steel Corporation (ESC) who would jointly own the company.
Simplified: The new company was created to gain the stainless steel interests of Thomas Firth and John Brown Limited and the English Steel Corporation (ES) who would jointly own the company.
Simplified: The new company was formed to take over the stainless steel interests of Thomas Firth and John Brown Limited and the English Steel Corporation (ESC) who would jointly own the company.
Simplified: The new company was made to acquire the stainless steel interests of Thomas Firth and John Brown Limited and the English Steel Corporation (ESC) who would together own the company.