| Author (Person) | Mallinder, Lorraine |
|---|---|
| Series Title | European Voice |
| Series Details | Vol.12, No.18, 11.5.06 |
| Publication Date | 11/05/2006 |
| Content Type | News |
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By Lorraine Mallinder Date: 11/05/06 Mittal Steel's bid for Arcelor enters a decisive phase tomorrow (12 May), with the Luxembourg-based group announcing results for the first quarter of what has proven to be a tumultuous year. The announcement comes shortly after Lakshmi Mittal suggested that he may revise upwards his 20.7 billion euro offer in response to Arcelor's concerns about having been undervalued. Officially, Arcelor opposes the hostile bid and, despite lingering scepticism over shareholder support for the company's handling of the bid, has shown no chinks in its armour. But Arcelor spokesman Jean Lasar hinted to the contrary. "When discussing the forthcoming [results] announcement with [CEO] Guy Dollé, he told me, 'actually, we can't speak now, but you can see the smile on my face'." The European Commission will not rule on the deal until 7 June. The competition watchdog's ruling - likely to be in favour of Mittal - had been expected next week. Author suggests that Mittal Steel's bid for Arcelor was entering a decisive phase on 12 May 2006, with the Luxembourg-based group announcing results for the first quarter of what has proven to be a tumultuous year. |
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| Source Link | Link to Main Source http://www.european-voice.com/ |
| Subject Categories | Business and Industry |
| Countries / Regions | France, Luxembourg |
