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Mittal offers $22.8 billion for hostile takeover of Arcelor.

Publication: Metal Center News
Publication Date: 01-FEB-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: Mittal offers $22.8 billion for hostile takeover of Arcelor.(Mittal Steel Company N.V.)

Article Excerpt
ARCELOR S.A. was still celebrating its seemingly ,successful bid to purchase Canada s Dofasco when the Luxembourg-based steel giant became the target of an even bigger takeover offer.

Mittal Steel N.V. made a late-January hostile takeover attempt for Arcelor, offering $22.8 billion for the company. The bid was quickly rejected by Arcelor's board and criticized by Arcelor CEO Guy M. Dolle. Arcelor's board members voted unanimously to reject Mittal's offer, claiming the two companies do not share the same "strategic vision, business model...

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