Merger could be finalised by mid-July

The Arcelor-Mittal merger could be finalised by mid-July, executives said 27 June 2006 at a meeting to announce the formation of the world’s largest steel company. It will be owned 50.6% by Arcelor shareholders and 49.4% by Mittal shareholders, of which about 43% will be held by the Mittal family. Arcelor shareholders meet on 30 June for their previously arranged vote on the acquisition of Severstal. Mr Lakshmi Mittal said he is confident that a majority will vote against, preferring the Mittal deal instead. Regulators are likely to impose a delay of about 7-10 days from the previously indicated completion date of 5 July.
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