Tag: Mittal Steel
Mixed signals on takeover law changes
The Luxembourg government said that it is satisfied with proposed changes to the country's takeover laws that could affect Mittal Steel's bid to take over Arcelor.
Lawmakers back takeover law changes
Luxembourg's parliaments finance committee backed a change in the country's takeover rules that could threaten Mittal Steel's hostile bid for Arcelor adding a twist in the merger battle.
Luxembourg to vote on takeover law
Luxembourg's parliament is to decide 22 March 2006 whether to introduce new rules which could obstruct the bid of Mittal Steel for Arcelor.
Mittal not to raise bid for Arcelor
Mittal Steel CEO Mr LN Mittal said that he had no plans to raise his EUR 19 billion offer for Arcelor SA or make a all cash bid, and was confident that Luxembourg would not try to scuttle the deal.
Mittal presents Arcelor plan to Luxembourg
Mittal Steel has presented a detailed industrial plan for the takeover of rival Arcelor to Luxembourg's government.
Mittal claims Arcelor investor’s support
Mittal Steel CEO Mr Lakshmi Mittal said on 15 March 2006 that he has support from a majority of investors in Arcelor for his company's planned USD 23.14 billion share and cash bid for the steel maker.
Amendment to M&A law proposed
The Luxembourg Chamber of Commerce is proposing amendments to merger and acquisition laws that could force Mittal Steel to change its bid for Luxembourg based Arcelor.
Arcelor executives oppose Mittal takeover bid
Senior executives of steelmaker Arcelor said on 13 March 2006 that they support the company's future direction and reject the hostile USD 23 billion takeover bid by Mittal Steel.
Arcelor SS units stay
Mittal Steel said it will keep the stainless steel activities of Arcelor if its proposed takeover bid succeeds.
Belgium to decide on Mittal’s bid by April
Belgium will decide on Mittal Steel's offer for Arcelor after its investment bankers wrap up a full analysis by the end of March or early April, Belgian Prime Minister Mr Guy Verhofstadt said 7 March 2006.