Tag: Arcelor

Mittal Steel Co. (Mittal) has announced on 28 August 2006 the final results of its offer for Arcelor securities, following completion of the centralization of tenders in the subsequent offering period which ran from 27 July through 17 August in Belgium, France, Luxembourg, Spain and the USA.

Arcelor and Mittal Steel Co. have announced the Chief Executive Officer, Chief Financial Officer, members of the Management Board and members of the Board of Directors for Arcelor Mittal. Mr Roland Junck has been appointed CEO.

Mr Gonzalo Urquijo CFO of Arcelor said that it is legally not possible for the combined Arcelor-Mittal group to sell Canada's Dofasco as Mittal Steel wishes.

AFX has quoted a spokesman of Arcelor as saying that the control of Arcelor will not change once its merger with Mittal is completed.

Mittal Steel Co. has announced on 26 July 2006 the final results of its offer for Arcelor securities, which expired on 13 July in Belgium, France, Luxembourg, Spain and the USA.

Mittal Steel has announced that, while the global centralizing agent for the offer is still in the process of verifying and counting the Arcelor securities tendered in the Offer, it has determined that, on a preliminary basis and based on statements made by financial intermediaries, the minimum tender condition of the offer ie 50% of Arcelor outstanding shares on a fully diluted basis as set forth in the Offer prospectus, as supplemented has been met.

Pursuant to applicable Luxembourg law, Mittal Steel informs the market that, to its knowledge, as of 12 July 2006, one day prior the closing of the offer, after closing of the markets in Europe, 109,306,317 Arcelor shares and 4,744,432 Arcelor convertible bonds have been tendered in its offer for such securities.

Reuters has reported that after the merger of Arcelor with Mittal Steel, Mittal Steel chairman Mr LN Mittal would be the chairman of the new entity after a year when the present incumbent ends his term.

Mittal Steel Co. NV (Mittal Steel) has announced that the Luxembourg Commission de Surveillance du Secteur Financier, the Belgian Commission Bancaire, Financière et des Assurances, the Spanish Comision Nacional del Mercado de Valores and the French Autorité des marchés financiers have approved the second Information Document Supplement relating to Mittal Steel’s recommended offer for Arcelor on 4 July 2006.

The shareholders meeting of Arcelor, which met on 30 June 2006 under the Chairmanship of Mr Joseph Kinsch, has resolved to reject the proposed Severstal merger. Arcelor’s board of directors has announced that approximately 58% of the outstanding share capital of Arcelor voted against the proposed Severstal merger.