Netherlands-based Mittal Steel on Tuesday claimed it has met the minimum conditions for takeover of Arcelor by acquiring 50 per cent of the Luxembourg-based company's outstanding shares.
UK-based Mittal Steel on Wednesday said it was undertaking a technical visit to Jharkhand for studying the potential of investment in the metal and mining sector.
Global steel giant Mittal Steel Co has bought its first stake in China's steel industry, purchasing a 37 per cent share of a state-owned steel mill, a news report said on Friday.
Mittal Steel Company NV, which acquired Luxembourg's Arcelor SA for $38.3 billion last year, said on Thursday it would complete the transaction in a two-step merger this year.
Mittal Steel on Friday announced that it had bought a 37.17 stake in Hunan Valin Steel Tube Wire, a subsidiary of Hunan Valin Iron & Steel of China for $314 million.
With global major Mittal Steel likely to foray into India with its proposal to set up a five million tonne steel plant in Jharkhand, Tata Steel has asked the government to check its track record before inviting the company.
Mittal Steel Company NV announced on Thursday an interim dividend of $0.125 per share for its European and New York Stock Exchange shareholders.
Mittal Steel, the world's biggest steel manufacturer, which made a $28.7 billion bid for acquiring Luxembourg-based Arcelor, on Friday said it has received US antitrust clearance for the said bid.
\n\nNRI steel tycoon Lakshmi Mittal appears to have crossed the first hurdle with three European regulators publishing the official $22.1 billion bid for his takeover of the Luxembourg-based Arcelor steel company.\n
Mittal Steel Company, owned by NRI steel tycoon Lakshmi Mittal, has earned a record net income of $4.7 billion for the twelve months ended December 31, 2004.
Mittal Steel is likely to sign within the next two months, an agreement with the Orissa government for setting up a steel plant at an investment of $7 billion.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Torpa is looking for a second chance to migrate from a poor village to a modern urban cluster but tension is building between those who want development and those against it. For two decades, National Hydel Power Corporation (NHPC) proposed, and some local tribal groups opposed, the setting up of the Koel-Karo hydro-electric project there, and it was finally abandoned last year.
The LN Mittal-owned Arcelor-Mittal, the largest producer of steel in the world, is set to sign a memorandum of understanding with the Orissa government for its proposed 12 million tonne steel plant this week.
The stalemate on Mittal Steel's proposed 12-million tonne Jharkhand project is likely to be sorted out at the meeting between the Jharkhand chief minister and the select board members of Mittal Steel.
Company says no project in Jharkhand without allotment of SAIL-owned Chiria mines.
Paving the way for a merger between Arcelor and Mittal Steel, an overwhelming majority of shareholders of the Luxembourg-based firm on Friday voted down a merger proposal from Russia's Severstal.
Arun Sarin-led British mobile giant Vodafone has been named as the world's fifth most accountable firm by Fortune Magazine in a list of the world's 100 Most Accountable Companies 2007. The list has Mittal Steel, headed by NRI billionaire Lakhsmi Mittal, at 96th position.
In Jharkhand, the company is hopeful of starting work as soon as the mines issue is resolved, while in Orissa, consultants for the detailed project report (DPR) and the socio-economic survey have been appointed.
Mittal Steel India, which will require 8,000 acres -- a mix of government and private land -- in Keonjhar, Orissa, for its proposed 12 million tonne plant, has decided to develop its own rehabilitation and resettlement package.
An ArcelorMittal spokesperson told PTI the offer made to the remaining Arcelor shareholders was consistent with the agreement between Mittal Steel and Arcelor signed in June 2006.
Lakshmi Mittal-led Mittal Steel reported on Wednesday a 43.7 per cent increase in its first quarter net profit, while beating its own forecast due to accelerated synergy generation from its $38 billion takeover of Arcelor last year.
Arcelor Mittal has announced key changes in senior positions within Mittal Steel USA in an effort to improve operational performance and align the company's flat products division in America with long-term goals for the combined company.
Steel tycoon L N Mittal, who had acquired 69 per cent stake in state-owned Polish firm Polskie Huty Stali in 2004, has signed a pact with the Polish government to buy the remaining stake for $2.3 billions.
Mittal Steel on Friday said it was serious about setting up greenfield projects both in Orissa as well as Jharkhand and has shortlisted three probable sites for its 12 million tonne plant in Jharkhand.
NRI steel tycoon L N Mittal will arrive in New Delhi on July 7 to review his India plans, just days after reaching an agreement to merge Mittal Steel with it nearest rival Luxembourg-based Arcelor to create the world's largest steel conglomerate.
The merger will create a company with nearly a 10 per cent share of global production
One of China's largest steel companies, Baotou Iron & Steel is in talks with the world's top steel maker, Arcelor Mittal over the possible sale of 49 per cent stake, the official media reported on Friday.
In an interview to Financial Times, the world's fifth richest man says although he is not the CEO of the merged entity Arcelor-Mittal, he would play a role in setting future strategy and looking at growth opportunities.
Mittal Steel, owned by NRI steel tycoon Lakshmi Mittal, has said that opposition to its controversial takeover bid of Luxembourg-based Arcelor is softening and the whole deal could be finalised by the end of June.
India has expressed concern over the French government's strong opposition to Mittal Steel's hostile bid to take over its rival European group Arcelor.\n\n
Steel baron Lakshmi Mittal, on his first visit to India after acquiring world No.2 steel firm Arcelor, will meet Prime Minister Manmohan Singh on Friday
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