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On 26 June, the Board of
Directors recommended the approval of the improved Mittal offer (49% improvement compared to the initial offer with 108% improvement of the cash component), proposed the creation of Arcelor-Mittal with industrial and corporate governance model based on Arcelor and scheduled a
306:
became the president and
Arcelor chairman Joseph Kinsch was appointed chairman of the new company until his retirement. Arcelor's merger with Mittal created the worldwide leader in the steel industry, increasing its bargaining power with suppliers and consumers. Mittal Steel agreed to pay €40.37 a
335:
On 20 June, the above claim by economists was confirmed when
Severstal increased its valuation of Arcelor. Management of Arcelor had in fact undervalued the company itself. The capability of management which had openly supported the previous valuation of Arcelor came into question. Further the
315:
Arcelor's directors strongly opposed the takeover, as did the governments of France, Luxembourg and Spain. The
Belgian government, on the other hand, declared its stance as neutral and invited both parties to deliver a
179:
producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 by a
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with the future investments in research in the
Belgian steel plants. The French opposition was initially very fierce and has been criticized in the Indian media as double standards and
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236:, as well as general industry. With total sales of over €40 billion, Arcelor was, by 2006, one of the world's largest steel manufacturer in terms of turnover.
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on 27 January 2006. However, the bid resulted in substantial increase in
Arcelor's share value. Two members of the board of Arcelor,
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due to a perceived opacity in the transaction. But on 25 June 2006, the
Arcelor board decided to go ahead with the merger with
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combined markets of France, Belgium, Luxembourg and Spain chided
Arcelor management and suspended trading of its stock.
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477:"Arcelor Board of Directors unanimously rejects Mittal's hostile proposal" retrieved from Arcelor.com on 2006-02-07
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Once employing 310,000 employees in over 60 countries, it was a major player in all its main markets:
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246:, Canada's largest steel producer with an annual output of 4.4 million tons. After an intense
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294:. There were questions about the intentions of Arcelor in announcing its merger with
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also resigned suddenly. On 26 May 2006 Arcelor announced its intention to merge with
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The products of
Arcelor are divided into three groups: Flat steel products,
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302:. Arcelor compensated Severstal €140 million for the failed merger attempt.
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Kanter, James; Timmons, Heather; Giridharadas, Anand (25 June 2006).
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It produced long steel products, flat steel products and inox-steel.
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warned that any attempt by France to block the deal would lead to a
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656:: "Special Report, Lakshmi Mittal buys Arcelor" (2006)
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The main production sites of flat steel products are
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In
January 2006 Arcelor announced the acquisition of
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Nerve.in: Timeline of events for Arcelor-Mittal deal
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633:Biz.Yahoo.com: "Arcelor SA Company Profile" (2004)
623:Arcelormittal.com: ArcelorMittal corporate website
340:corporate meeting for 30 June to vote on this.
307:share to Arcelor, doubling its original offer.
1822:Manufacturing companies disestablished in 2006
1335:Orders, decorations, and medals of Luxembourg
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681:
8:
648:BBC News: "Mittal Steel unveils Arcelor bid"
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1832:Luxembourgian companies established in 2002
1817:Manufacturing companies established in 2002
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564:"India, EU back Mittal's bid on Arcelor"
544:Arcelor, Mittal decide to merge: Reports
469:
254:, Arcelor had finally bid 5.6 billion
196:(Luxembourg). Arcelor is now part of
7:
1827:2006 disestablishments in Luxembourg
324:in Europe. Indian commerce minister
587:"Arcelor agrees to Mittal takeover"
1812:Companies based in Luxembourg City
14:
1572:Belgium–Luxembourg Economic Union
843:
628:Arcelormittal.com: Constructalia
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418:
274:The company was the target of a
1807:Defunct companies of Luxembourg
534:on International Herald Tribune
525:Arcelor agrees to Mittal merger
16:Former European steel producer
1:
1802:Steel companies of Luxembourg
713:History of ferrous metallurgy
956:Argon oxygen decarburization
1436:Valley of the Seven Castles
1117:Differential heat treatment
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332:between India and France.
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1633:
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1092:
1041:Ferritic nitrocarburizing
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708:
482:February 2, 2006, at the
26:
1367:Administrative divisions
1132:Post weld heat treatment
311:Reaction to the takeover
270:Merger with Mittal Steel
184:of the former companies
175:was the world's largest
1298:Second Treaty of London
718:List of steel producers
453:List of steel producers
1283:First Treaty of London
946:Electro-slag remelting
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226:primary transformation
1496:Consultative Assembly
1486:Council of Government
1156:Production by country
264:
1743:World Heritage Sites
1330:Military occupations
1268:Austrian Netherlands
1142:Superplastic forming
1061:Quench polish quench
951:Vacuum arc remelting
930:Basic oxygen process
925:Electric arc furnace
574:on 19 February 2006.
458:Mittal Steel Company
406:SĂŁo Francisco do Sul
322:economic nationalism
276:hostile takeover bid
230:household appliances
200:after a takeover by
146:€40.6 billion (2006)
1733:RTL Télé Lëtzebuerg
1501:Diplomatic missions
1474:Chamber of Deputies
1263:Spanish Netherlands
1258:House of Luxembourg
1097:Cryogenic treatment
920:Open hearth furnace
908:Primary (Post-1850)
899:Cementation process
786:Direct reduced iron
506:on 11 February 2006
360:Flat steel products
350:long steel products
250:against the German
152:Number of employees
23:
1607:Telecommunications
1582:Electricity sector
1421:Luxembourg plateau
1416:Little Switzerland
1278:Belgian Revolution
868:Primary (Pre-1850)
591:The New York Times
568:hindustantimes.com
549:2023-01-07 at the
530:2006-09-01 at the
496:"Management Board"
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288:Jacques Chabanier
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256:Canadian dollars
222:metal processing
82:18 February 2002
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1668:Social class
1638:Demographics
1084:Martempering
1079:Austempering
988:Low hydrogen
806:Finery forge
802:Wrought iron
659:
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252:ThyssenKrupp
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202:Mittal Steel
173:Arcelor S.A.
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117:Headquarters
100:Mittal Steel
98:Merged with
58:Predecessors
39:
36:Company type
22:Arcelor S.A.
18:
1567:Accountancy
1521:LGBT rights
1127:Forming gas
1031:Carburizing
888:Wootz steel
854:Steelmaking
753:sponge iron
500:Arcelor.com
408:in Brazil.
382:Fos-sur-Mer
248:bidding war
1791:Categories
1723:Newspapers
1648:Euthanasia
1587:Euro coins
1325:Partitions
1313:Occupation
1236:Luxembourg
1184:Luxembourg
1164:Bangladesh
1106:Deflashing
1016:Ausforming
859:Steel mill
769:Cold blast
761:(produces
751:(produces
703:production
510:7 February
464:References
326:Kamal Nath
214:automotive
128:Luxembourg
1653:Languages
1643:Education
1612:Transport
1592:RTL Group
1506:Elections
1431:Red Lands
1372:Districts
1355:Geography
1318:Holocaust
1137:Quenching
1111:Hardening
1101:Deburring
1071:Tempering
1051:Nitriding
1046:Induction
1036:Cryogenic
1003:Hardening
980:Annealing
939:Secondary
822:Cast iron
795:Secondary
774:Hot blast
731:Ironworks
599:0362-4331
330:trade war
296:Severstal
292:Severstal
234:packaging
204:in 2006.
188:(Spain),
106:Successor
1771:Category
1663:Religion
1526:Military
1516:Monarchy
1462:Politics
1411:Guttland
1397:quarters
1382:Communes
1021:Boriding
813:Puddling
763:pig iron
749:Bloomery
741:Smelting
604:20 March
547:Archived
528:Archived
480:Archived
412:See also
394:Florange
386:Piombino
344:Products
208:Business
186:Aceralia
135:Products
67:Aceralia
48:Industry
1762:Outline
1701:Cuisine
1683:Culture
1626:Society
1577:Benelux
1555:Economy
1377:Cantons
1245:History
1189:Nigeria
972:methods
816:Furnace
370:Dunkirk
265:arcelor
244:Dofasco
161:Website
143:Revenue
87:Defunct
79:Founded
69:(1902)
64:(1911)
1776:Portal
1696:Cinema
1658:People
1531:Police
1448:Rivers
1443:Éislek
1273:ForĂŞts
597:
398:Bremen
374:Avilés
232:, and
190:Usinor
182:merger
112:(2006)
74:(1948)
72:Usinor
1738:Sport
1713:Music
1597:Steel
1387:Towns
1179:Italy
1174:India
1169:China
824:(via
804:(via
701:steel
390:Liège
378:GijĂłn
366:Ghent
194:Arbed
177:steel
138:Steel
62:Arbed
52:Steel
1706:Wine
808:or
699:and
697:Iron
606:2022
595:ISSN
512:2006
352:and
286:and
95:Fate
90:2006
1691:Art
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