Tag: Mittal Steel
ThyssenKrupp expects Mittal to honour Dofasco deal
ThyssenKrupp AG said it expects Mittal Steel to honour the agreement reached in January under which the German steel maker would acquire Arcelor’s recently acquired Dofasco in the event of a successful takeover of Arcelor by Mittal Steel.
Mittal and Arcelor merge
Mittal Steel Co. has announced that it has reached an agreement with Arcelor to combine the two companies in a merger of equals to create the world’s leading steel company.
Arcelor board to make a decision
The full board of Arcelor met on 21 June 2006 with Mr Kinsch as Chairman to consider the improvements to the Severstal transaction proposed by Mr Mordashov.
Mittal likely to increase offer for Arcelor
ING group said that Mittal Steel needs to increase its offer a second time to convince Arcelor’s board to recommend it.
Mittal calls on Arcelor Shareholders
Mittal Steel has issued an open letter urging Arcelor SA shareholders to resist pressure from management to merge with Severstal.
Severstal offers revised terms for merger proposal
Severstal has offered to revise the terms of its merger agreement announced on 26 May 2006 with Arcelor in a bid to outflank Mittal Steel's competing bid.
Arcelor merger dropped if Mittal reaches 50% stake
Mr Alexei Mordashov, Severstal's chairman and principal shareholder, said that the group will abandon its plan to merge with Arcelor if Mittal Steel manages to acquire a stake of 50% or more in the combined group.
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.
Mittal commences US offer for Arcelor
Mittal Steel has announced the commencement of the previously announced US offer for ordinary shares and convertible bonds of Arcelor SA held by US holders and for all Arcelor American Depositary Shares, each ADS representing one ordinary share of Arcelor.
