Mittal Steel Co. NV has announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to Mittal’s bid to acquire Arcelor expired at 11:59 pm on 11 May 2006. The Department of Justice has not issued a request for additional information and documentary material (second request) in connection with the Transaction. The Department’s investigation is continuing with respect to one area of overlap between the companies’ operations in North America. Mittal and the Department have agreed that, if the Department were to conclude that a remedy is necessary to resolve a competitive concern in this area, Mittal’s proposed sale of Dofasco Inc., in accordance with its 26 January agreement with ThyssenKrupp, would satisfy the Department’s concerns. Mittal remains committed to divesting Dofasco to ThyssenKrupp pursuant to the 26 January agreement. If Mittal is unable to sell Dofasco to ThyssenKrupp due to Arcelor’s transfer of its Dofasco shares to the S3 Stichting, Mittal may instead resolve any competitive concern by selling an alternative asset. Mittal believes that a divestiture of the alternative asset would have no adverse effect on Mittal Steel’s sales or operations, particularly in light of the related retention of Dofasco.
