Mittal Steel Co. NV expects to wrap up its lengthy EUR 30 billion takeover of rival Arcelor SA in November. In a move to appease minority shareholders holding out for better terms, Arcelor said it will ask stakeholders on 5 November to approve a capital restructuring and an extra dividend of US 4 cents “to ensure that all Arcelor shareholders will receive the same per share dividend of US 32 cents.” But this is unlikely to please shareholders complaining the squeeze-out offer does not reflect recent rises in the companies’ share prices. Hedge fund activists lost legal actions to block the deal last month. The company will now offer eight “post-restructuring” Arcelor shares that can be exchanged for eight ArcelorMittal shares, for seven old Arcelor shares saying this was consistent with a May 2007 share offer. “This merger constitutes the second step of the previously announced two-step merger process between Mittal Steel and Arcelor,” the company said, adding that it expected the deal to be fully sealed “on or around” 13 November.