Arcelor declares merger with Mittal Steel
Sunday, June 25, 2006
Arcelor, Luxembourg's largest steel company, has reached in an agreement with Mittal Steel over a €26.9 billion merger (at €40.44 per share). The new company will be called Arcelor-Mittal. Mittal Steel will hold 45% stake in the new company. Arcelor would pay Severstal €130 million as a "fine" for the fall-out of their failed talks. Lakshmi Mittal (owner of Mittal Steel) and Joseph Kinsch (current Arcelor chairman) will be the co-chairmen of the new company. The new company will have a net capacity of 120 million tonnes.
Sources
edit- "Arcelor agrees to Mittal merger" — International Herald Tribune, June 25, 2006
- "Arcelor, Mittal decide to merge: Reports" — Rediff.com, June 25, 2006
- "Arcelor-Mittal facts" — TheStar.com, June 25, 2006
 |
This page has been automatically archived by a robot, and is no longer publicly editable.
Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators. Please note that the listed sources may no longer be available online. |