Dec 16 2004
Ispat International N.V. today announced that its shareholders approved the acquisition of LNM Holdings N.V. by Ispat International N.V. at an Extraordinary General Meeting of Shareholders held today in Rotterdam. The transaction is expected to close on December 17, 2004.
The combined company, which will be named Mittal Steel Company N.V. and will trade on the New York Stock Exchange and Euronext Amsterdam under the ticker symbol “MT,” will be one of the world’s largest steel companies, with pro forma revenues for the nine months ending September 30, 2004 of approximately $16 billion, steel shipments of 32 million tons, and 168,000 employees in 14 countries, across four continents.
At the Extraordinary Meeting, Ispat shareholders also approved the appointment of Ms. Vanisha Mittal Bhatia to the Board of Directors of Mittal Steel. All other proposals were also approved by a large majority of shareholders.
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