Tag: Arcelor
Mittal not to improve financial bid
Mittal Steel said on 13 June 2006 that it had no plans to improve the financial terms of its offer for Arcelor and said a proposal to improve its offer related only to corporate governance.
Arcelor rejects Mittal’s current revised offer
On 11 June 2006 Arcelor's Board of Directors met at their headquarters under the chairmanship of Mr Joseph Kinsch.
Arcelor employees now shareholders
Following a program designed to allow Arcelor employees to become shareholders of the company launched in 12 countries, around 50% of Arcelor's employees in these countries will now be shareholders of the company.
EC approves Mittal-Arcelor merger
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Arcelor by Mittal Steel subject to conditions as both companies are major steel producers.
Mittal’s revised offer approved
Market regulators in Belgium and Luxembourg announced that they have approved Mittal Steel's revised EUR 23.5 billion offer for Arcelor.
Mittal may settle for minority stake
Mittal Steel plans to continue with its offer for Arcelor but could end up with a lower stake in the company than it has been seeking, in light of the European group’s proposed EUR 13 billion merger with Severstal of Russia.
Mittal to press ahead with bid for Arcelor
Mr LN Mittal vowed to press ahead with his bid to acquire Arcelor, despite plans by Arcelor to merge with Severstal saying that his offer made more sense for shareholders, offered better value to shareholders and would create a stronger industrial group.
Lucchini supports Arcelor-Severstal merger
The Italian-based Lucchini will also participate in the merger operation between Arcelor and Severstal which will lead to the creation of the largest worldwide steel group.
Merger stops Dofasco going to ThyssenKrupp
Arcelor's plan to purchase Severstal would keep ThyssenKrupp from buying one of Arcelor's units Canadian Dofasco Inc. as planned by Mittal Steel and leave it with only smaller targets for an acquisition as the steel industry consolidates.
