Arcelor CEO believes that he can fend off Mittal

Arcelor SA still believes it can fend off the Mittal Steel Co. NV takeover bid, but does see the need for consolidation in the steel industry, CEO Mr Guy Dolle said according to the press release of an interview to appear in Die Welt. The CEO said he has seen no signs on the investor road show that the company’s shareholders want to accept Mittal’s EUR 18.6 billion takeover offers, contrary to statements made by Mittal Steel. Mr Dolle added that he feels his arguments against the takeover are good and Arcelor’s outlook is more than good. He does not see this jeopardized by the entrance of hedge funds as shareholders.

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