Friday, January 27, 2006

Mittal launches €18.6bn offer for rival Arcelor

The acquistion guru Lakshmi Mittal has done it again! But it may not be going be easy this time, because the company he is trying to gobble up is none other than his rival Arcelor, world's second largest steel maker.

Mittal is offering €18.6, which values Arcelor share at €28.21, a 27 per cent premium over last night’s closing price.

If the deal comes through, then Mittal will be reaching the 100 tonne mark easily, leaving behind Nippon Steel way behind.

Here's more on this from FT: Mittal launches €18.6bn offer for steel rival Arcelor


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