Tag: Severstal
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.
Mr Ross confirms that Mittal will not raise offer
Mr Wilbur Ross a director of Mittal Steel confirmed on 26 May 2006 that Mittal Steel will not raise its offer for Arcelor.
