TITLE

Joint Venture Buys Sparrows Point, Clears Way for Arcelor-Mittal Merger

PUB. DATE
August 2007
SOURCE
Metal Center News;Aug2007, Vol. 47 Issue 9, p38
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that ArcelorMittal Co. has agreed to sell its Sparrows Point mill to a new joint venture, which would satisfy antitrust regulators and clearing the way for Arcelor SA and Mittal Steel NV to complete their merger in the U.S. The joint venture includes Wheeling-Pittsburgh Steel Corp., Companhia Vale de Rio Doce, Industrial Union of Donbass and individual investors. Its sale is made necessary by the Department of Justice as a condition for its approval of the acquisition.
ACCESSION #
26383170

 

Related Articles

  • 'Reasonable Marriage' of Mittal, Arcelor Gives Birth to Steel Giant.  // Metal Center News;Jul2006, Vol. 46 Issue 8, p44 

    The article focuses on the merger of steel companies Mittal Steel and Arcelor, resulting to the world's largest steel company called Arcelor-Mittal. The terms of the revised offer of Mittal are discussed. An area where no agreement has been reached by the two companies is the future of Canadian...

  • U.S. Rules Mittal Must Divest Sparrows Point.  // Metal Center News;Mar2007, Vol. 47 Issue 3, p47 

    The article reports on the decision of the U.S. Department of Justice to require Mittal Steel Co. to divest its Sparrows Point facility in Baltimore, Maryland. The agency's ruling was made to address the anticompetitive situation resulting from the company's $33 billion acquisition of Arcelor...

  • Arcelor-Mittal Merger's a Done Deal.  // Metal Center News;Aug2006, Vol. 46 Issue 9, p48 

    The article reports on the merger of Arcelor and Mittal, two of the largest steel companies in the world, which took months to agree upon, but only weeks to complete. The companies began working together by the start of August 2006, holding joint press and analysts conferences to discuss...

  • Mittal focus on more than just bid for Arcelor.  // Wire Journal International;Apr2006, Vol. 39 Issue 4, p28 

    The article reports that Mittal Steel Co. has continued its campaign to persuade Arcelor SA to accept its hostile takeover offer. Mittal believes that while Arcelor CEO Guy Dolle rejects the offer, company's shareholders and some mid-level executives favor the acquisition. Mittal has decided to...

  • Reinforced steel. Barnard, Bruce // Journal of Commerce (1542-3867);5/15/2006, Vol. 7 Issue 20, p12A 

    Focuses on the status of the steel industry in Europe. Implications of the consolidation of Mittal Steel and Arcelor for the industry; Significance of China's emergence as major steel producer to the industry; Benefits of the rising consolidation and merger activity to steel companies.

  • Mittal Steel's $25 Billion Bid for Rival Heats Up. Platt, Gordon // Global Finance;Mar2006, Vol. 20 Issue 3, p55 

    The article reports on the reaction by politicians and union leaders to the merger proposed by Netherland-based Mittal Steel over Arcelor SA in Luxembourg. Politicians and union leaders spoke out against the proposed merger stating that it would result in plant closings and thousands of job...

  • Mittal letter outlines need for more mergers.  // Wire Journal International;Sep2006, Vol. 39 Issue 9, p20 

    The article presents a letter sent to "The Wall Street Journal," by Mittal Steel President Lakshmi Mittal about the company's hostile bid for Arcelor. Mittal Steel announced on July 26, 2006 that 92 percent of Arcelor shareholders had tendered their shares in support of the merger. Mittal...

  • EMPEROR OF STEEL. Schwartz, Nelson D.; Burke, Doris // Fortune;7/24/2006, Vol. 154 Issue 2, p100 

    The article profiles Lakshni N. Mittal, the world's fifth richest man and CEO of Mittal Steel, the largest steel producer in the world. The process of Mittel's acquisition of the European steel giant Arcelor is examined and financial details are provided. Personal information on Mittal, his...

  • Steely Competition. Schwartz, Nelson D. // Fortune International (Europe);2/20/2006, Vol. 153 Issue 3, p11 

    The article looks at the world's largest steel producer, Mittal Steel of Rotterdam, and its bid to take over the world's second largest steel producer, Arcelor. If the takeover is successful, the combined company will have about 10% of the global market for steel production. The article...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics